At its meeting held on 23 April 2018
The Board of Thomas Cook (India) announced that 23 April 2018 approved (subject to regulatory approvals) a corporate restructuring exercise by way of a composite scheme of arrangement and amalgamation, aimed at streamlining its businesses into four key verticals namely: Travel (outbound, domestic, business travel & MICE), Foreign Exchange, Destination Management Services & Portfolio Investments such as Sterling Holiday Resorts. The restructuring also involves consolidating the human resource services business into Quess Corp. Pursuant to the composite scheme, TCIL shareholders will receive 1889 equity shares of Quess (of Rs 10 each) for every 10000 equity shares (of Re 1 each) held in TCIL.Powered by Capital Market - Live News
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