LKP forex branches to be re-branded as TCIL branches

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Thomas Cook (India) Ltd (TCIL), the country's leading travel solutions Company, today announced the Re-Branding of LKP Forex branches. All the LKP Forex branches will bear Thomas Cook (India) Ltd. branding with effect from February 01, 2007. This marks the completion of the final step in amalgamation of the two companies. It may be recalled that in June 2006, TCIL and the LKP Group entered into a non-binding memorandum of understanding to explore the amalgamation of LKP Forex Limited with TCIL through a scheme of amalgamation. This scheme was approved by the Hon'ble Bombay High Court on January 12, 2007.

 

Madhavan Menon, Managing Director of TCIL says, "Today is the culmination of all our efforts that began in June last year. We will now focus on consolidating our foreign exchange business and extract maximum synergy benefits. I would like to thank all my colleagues who have worked really hard to make this merger a success"

 

TCIL is the biggest collector of foreign exchange in retail and wholesale and with LKP merger and its subsequent re-branding into TCIL, the revenues from foreign exchange business would rise even further. LKP forex had merged with TCIL in August last year and with that TCIL now has a national foot print of almost 200 branches in 55 cities and a head count of around 3000 individuals making it the largest travel and tour operator in India.

 

Sourced From: Sampark Public Relations Pvt Ltd