Jul 24, 2013, 08.08 AM | Source: CNBC-TV18
Priyanka Ghosh of CNBC-TV18 reports that travel giant Thomas Cook has now joined the bandwagon of MNCs, acting on the total asset monetisation plan they had laid out a while ago.
Priyanka Ghosh (more)
Reporter, CNBC-TV18 |
The sale comes as a part of the total asset monetisation plan that the company had been reporting. It had reported this on May 20. The asset is located in Chandramukhi building at Nariman Point. The area is 10,300 square feet. The deal is expected to be clinched anywhere between Rs 30-32 crore.
According to market analysts, the total deal is expected to be fetched at about Rs 30,000-32,000 per square foot.
Thomas Cook is looking to sell 60-70 percent of its total assets in a bid to consolidate operations. It is estimated that it has about 60,000 square feet in Mumbai and over a lakh of square feet pan India.
Since the locations of these assets are so fragmented they couldn't ascribe a particular valuation to the total asset sale.
The balance 76 percent is held by SOTC Travel Serv
Travel services provider Thomas Cook India has rep
With the various acquisitions that they have done,
Thomas Cook India's internal research and consumer