Business News • MarketWire • Fairfax Announces Agreement to Acquire Thomas Cook India |
Fairfax Announces Agreement to Acquire Thomas Cook India |
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Fairfax Announces Agreement to Acquire Thomas Cook India
TORONTO, ONTARIO--(Marketwire - May 21, 2012) - Fairfax Financial Holdings Limited ("Fairfax") (TSX:FFH)(TSX:FFH.U) announced today that, through its Fairbridge Capital subsidiary, it has entered into an agreement with Thomas Cook Group plc ("Thomas Cook") in the United Kingdom to purchase its 77% interest in Thomas Cook (India) Limited ("TC India") at a purchase price of INR 50 per share for a total cost of INR 8,174 million (approximately US$150 million). The transaction is subject to customary conditions, including approval by Thomas Cook's shareholders and Indian regulatory approval.
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