Cox and Kings gains 4% on buying UK travel firm

Cox and Kings is trading higher by more than 4% at Rs 201 after the company agreed to buy British specialist travel firm Holidaybreak for 312 million pounds ($511.3 million or Rs 2,300 crore) in cash as it expands into new product areas and markets.

“Under the terms of the acquisition, the London-listed Holidaybreak shareholders will receive 432.1 pence in cash per Holidaybreak share,” the travel support services company said in a filing to the stock exchanges.

Around 100,000 shares have changed hands on the counter in opening deals on both the exchanges.