Thomas Cook merges with LKP Forex

Thomas Cook has announced its merger with LKP Forex, the forex arm of LKP Securities.

Thomas Cook, with 65 branches and a turnover of Rs 160 crore, is the leading player in the forex space in the country and LKP Forex with 80 branches and a turnover of Rs 40 crore is the number two firm in the space.

The combined entity thus will be the leading player in the space, by far.

NM Raiji & Co have been appointed as advisors to decide on the merger ratio in a month's time.