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Thomas Cook to acquire Tata Capital Forex

LiveMint logoLiveMint 25-09-2017 Livemint

New Delhi: Thomas Cook (India) Ltd on Monday said it is planning to buy 100% stake in Tata Capital Forex Ltd, a unit of Tata Capital Ltd.

The company in a Bombay Stock Exchange (BSE) filing said its board of directors approved signing an agreement with Tata Capital to acquire 100% stake in Tata Capital Forex.

Tata Capital Forex provides services related to foreign exchange transactions, and also provide assistance in the areas of travel loan, insurance and car rental services, according to its website.

Tata Capital Ltd is the financial services arm of the Tata group that manages various private equity funds.

At 12.50pm, shares of Thomas Cook were trading 2.87% down at Rs225.45, while the Sensex fell 348 points, or 1.09%, to 31,574.

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