Sterling likely to get Rs 187 cr via preferential issue

After Sterling Holiday enters into Rs 870 crore merger deal with Thomas Cook, Ramesh Ramanathan, MD of Sterling Holiday says if investors avail the offer while the merger takes place along with Thomas Cook shares, they will get into a much bigger and stronger brand.

According to Ramanathan, merger of both Thomas Cook and Sterling will create one of the largest companies in the travel and holiday space. He adds there will be lot of synergies building up, not just the valuation of the company but also in terms of the business and what it holds for future for both the companies. “I am sure this will translate into benefits for the shareholders too,” he adds.

Sterling expects to get around Rs 187 crore through preferential issue which will be around 23.2 percent.