In process of unlocking more value via more sales, says Cox & Kings

Cox & Kings in focus as the company's arm sells 11.58 percent stake in Prometheon Holdings UK to SSG Capital. In an interview to CNBC-TV18, Peter Kerkar, Group CEO of the company discussed this in detail.

Kerkar said that the total deal size is around USD 75 million after all the transactions and expenses, so the net cash in rupee will be around Rs 450 crore.

He further said that the primary purpose of doing this deal is to reduce debt and also to increase shareholder value for our shareholders.

We are in the process of unlocking more value via more sales, said Kerkar.

Talking about debt, he said that entire Rs 450 crore will be used to repay debt.

Our annualised interest outgo will come down by Rs 36 crore post deal, he added.

For entire interview, watch accompanying video.