Cox And Kings To Raise Rs 2000 Cr For Expansion, Acquisitions
Cox and Kings is raising Rs 2000 Cr through debt and equity to fund its expansion plans. Rs 1000 Cr will be raised as equity and the rest as debt.
The company is looking for acquisitions in US, Canada, England, Australia and New Zealand, a part of the funds will also be used for acquisitions.
It also earmarked Rs 150 Cr of the Rs 610 Cr raised through a public issue in Dec'09 for global acquisitions.
Transaction Reference: ET
Cox & Kings India Limited has been promoted by A B M Good and Ajay Ajit Peter Kerker and his associates. Ajit Kerker was a very well known name in the Indian hotel industry. It is headquartered in Mumbai and has 12 fully owned offices across the country.
It operates through three verticals: Leisure, Corporate Travel and Forex. It currently has 80 franchise sales outlets in 44 locations across India.
Earlier in Nov'08, it acquired Australia based Tempo Holidays for about $25 Mn. The acquisition was funded by internal accruals and offshore debt from Axis Bank.
It also acquired Australia- based travel and tour operator My Planet/Bentours Australia in Dec'09.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 17/05/12 | Cox & Kings - Fund Raise | Private Equity | Looking For | 140.00 |
| 17/08/10 | Cox And Kings - GDR | IPO / Offerings | 65.00 | |
| 20/11/09 | Cox & Kings - IPO | IPO / Offerings | 131.04 | |
| 18/11/09 | Cox & Kings - T. Rowe Price, Capital International (Anchor Investment) | Private Equity | Sundaram BNP Paribas Mutual Fund | 19.58 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 17/05/12 | Private Equity | Looking For | Cox and Kings Limited | 140.00 | Planned |
| 14/05/12 | M&A | Expolanka Holdings Plc | Akquasun Holidays India Private Limited | 0.93 | Completed |
| 03/05/12 | M&A | MakeMyTrip India Private Limited | D Pauls Travel and Tours Limited | - | Rumor |
| 23/04/12 | M&A | MIH Group | Tek Travels Private Limited | - | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Cox and Kings Limited | LIZ Investment Private Limited Sneh Sadan Graphic Services Private Limited Kubber Investment (Mauritius) Private Limited A B M Good |
Turner Morrison Building, 16 Bank Street, Fort,Mumbai-400001. Maharashtra, India. |
Thomas Cook India Limited Kuoni Travel (India) Private Limited |
www.coxandkings.com |
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