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Jun 22, 2012, 12.11 PM IST
Shares of Cox & Kings, a travel company, gained as much as 6% to intraday high of Rs 130.65 after The Economic Times reported that the company is in talks with PE players for a stake sale in its UK unit to repay debt.
Shares of Cox & Kings , a travel company, gained as much as 6% to intraday high of Rs 130.65 after The Economic Times reported that the company is in talks with PE players for a stake sale in its UK unit to repay debt.
"Travel and tour operator is in talks with some private equity funds such as KKR, Bain Capital, Carlyle and TPG to sell a minority stake in its UK subsidiary and raise about USD 140 milion, people close to the development said. The money will be used to repay debt raised during Cox & Kings' Rs 2,250-crore acquisition of Holidaybreak Plc, the step-down subsidiary of Cox's UK holding company, Prometheon Holdings, " the report says.
At 11:57 hours IST, the share was trading at Rs 127.80, up 3.65%. Even its trading volumes increased 77% to 2,44,650 shares as compared to its 5-day average of 1,37,928 shares.
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