Thomas Cook India, the second largest travel house in India, is believed to negotiating with the Rs 500 crore TTK group to buy its Visa business. That’s soon after Thomas Cook acquired LKP Forex, reports CNBC-TV18.
Sources say the deal could be worth between Rs 100 crore and 150 crore. TTK collects visa applications, formats them and helps people get interviews and visas. But Thomas Cook officials said there were no such plans.
Thomas Cook recently acquired LKP to boost its forex business and is believed to be in talks to buy out TCI. That would help its inbound business.
But for its outbound business, Thomas Cook will soon be known by a different name. CNBC TV18 learns that an agreement with its German parent requires it to abandon its brand for outbound travel business.
Sources say the new brand could be 100% Travel. The travel packages will be rebranded this year. Outbound travel comprises 25% of Thomas Cook India's business. Industry exerts say this exercise could give competitors like Kuoni and Cox & Kings an edge over Thomas Cook, which will have to establish its new brand.
Thomas Cook officials were tight-lipped about the new brand. Dubai Finance Company bought Thomas Cook in January this year. After that the company said it would grow inorganically. All these acquisitions will help it to become that one-stop shop faster.
:tea:
Sources say the deal could be worth between Rs 100 crore and 150 crore. TTK collects visa applications, formats them and helps people get interviews and visas. But Thomas Cook officials said there were no such plans.
Thomas Cook recently acquired LKP to boost its forex business and is believed to be in talks to buy out TCI. That would help its inbound business.
But for its outbound business, Thomas Cook will soon be known by a different name. CNBC TV18 learns that an agreement with its German parent requires it to abandon its brand for outbound travel business.
Sources say the new brand could be 100% Travel. The travel packages will be rebranded this year. Outbound travel comprises 25% of Thomas Cook India's business. Industry exerts say this exercise could give competitors like Kuoni and Cox & Kings an edge over Thomas Cook, which will have to establish its new brand.
Thomas Cook officials were tight-lipped about the new brand. Dubai Finance Company bought Thomas Cook in January this year. After that the company said it would grow inorganically. All these acquisitions will help it to become that one-stop shop faster.
:tea: