Thomas Cook to spin off Quess in a year to simplify business structure

Fairfax-owned Thomas Cook runs travel, foreign exchange, vacation ownership business (through Sterling Holidays) in addition to Quess

Thomas Cook aims to spin off its human resource firm Quess within a year to simplify business structure and secure better valuation for its core travel business.
 
Thomas Cook acquired Ikya (now known as Quess), a staffing solutions and facilities management company in 2013 and listed it on stock exchange through an IPO in 2016. Thomas Cooks owns 49 per cent in the firm and its stake is valued at Rs 20.40 billion on close of Tuesday's stock price.
 
Under the spin off process, Thomas Cook's promoter (Fairfax) and its other ordinary shareholders will get shares in Quess