Thomas Cook up 3%, Bombay HC allows Sterling Holiday merger

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26 Aug, 2025 12:21

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Moneycontrol Bureau

Shares of Thomas Cook gained 3 percent intraday Tuesday on getting approval from the Bombay High Court for merger of Sterling Holiday Resorts with itself.

The shareholer approval had earlier been obtained by way of a postal ballot and a court convened meeting.

"The High Court of Bombay has sanctioned the composite scheme of arrangement and amalgamation between Sterling Holiday Resorts India, Thomas Cook Insurance Services India and Thomas Cook India and their respective shareholders and creditors under the court process," said the company in its filing.

Once the High Court order is filed with and approved by the relevant authorities, Thomas Cook will initiate the process for issue of shares to shareholders of Sterling Holiday Resorts India, it added.

"With a clear roadmap, Sterling has taken strong, confident strides this year with upgrades of 6 existing resorts and opening of 4 new resorts (at Corbett, Daman, Shirdi and Dindi), to bring its network to a total of 24 resorts across India," said Madhavan Menon, managing director, Thomas Cook.

At 12:23 hours IST, the scrip of Thomas Cook was quoting at Rs 225.20, up Rs 5.75, or 2.62 percent on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar