Cox & Kings jumps 4.5 pc as company recasts biz

Cox & Kings shares today surged 4.50 per cent after the firm announced that it has restructured its business by selling two entities -- LateRooms and Superbreak.
The stock ended the day 4.50 per cent higher at Rs 189.40 on BSE. Intra-day, it went up to Rs 194.
On NSE, the scrip soared 3.03 per cent to settle at Rs 187.30. On the volume front, a total of 9,22,673 shares changed hands on the exchange.
The leisure travel firm today announced that it has sold the two entities for over 25 million pound (about Rs 235 crore) to the UK-based Malvern Enterprises, in which it will hold a 49 per cent stake.

A Europe-based private equity investor will own the rest of the 51 per cent in Malvern.
"Cox & Kings has sold 100 per cent of LateRooms UK Ltd to Malvern Enterprises UK Ltd for GBP 20 million," Cox & Kings said in a BSE filing.
Holidaybreak Ltd, the company's 65.58 per cent owned subsidiary, has sold entire stake in Superbreak business to Malvern in a transaction for which it received net cash consideration of 9.25 million pound, it added.
Cox & Kings has bought the 49 per cent stake in Malvern for 6.37 million pound.