Thomas Cook India arm Quess Corp to acquire 49% stake in TSQ

Travel services provider Thomas Cook India's subsidiary Quess Corp today entered into a pact with Qatar-based Transfield Services (Qatar) WLL to acquire 49 per cent stake for an undisclosed amount.

"Post successful completion of the acquisition, Transfield Services (Qatar), primarily operating in the oil and gas market in the State of Qatar, will be the local entity vehicle for the industrial asset management division (Hofincons) of Quess," Thomas Cook India said in a filing to the BSE.

The company, however, did not specify the amount for which Quess Corp will pick the stake in the company.

Thomas Cook India's footprint currently extends to over 234 locations (including 23 airport counters) in 96 cities across Mauritius, India and Sri Lanka.

Shares of Thomas Cook India Ltd today ended at Rs 242.95 per scrip on the BSE, down 2.98 per cent from the previous close.