Cox Kings sells European subsidiary for Rs 892cr

The management says that the funds from this deal will be used to reduce debt.

We felt it was the right and appropriate time to sell subsidiary.

Peter Kerkar

Group CEO

Cox & Kings (India)

Travel firm  Cox & Kings has sold the camping division of its European subsidiary for Rs 892 crore of which 855 crore is payable in cash on completion of the deal. The management says that the funds from this deal will be used to reduce debt, which currently is around Rs 4,200 crore.

Also Read: Cox & Kings posts net loss of Rs 46 crore in Q4 FY14

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Cox & Kings stock price

On June 02, 2014, Cox & Kings closed at Rs 182.10, up Rs 13.35, or 7.91 percent. The 52-week high of the share was Rs 193.50 and the 52-week low was Rs 84.50.

The company's trailing 12-month (TTM) EPS was at Rs 8.27 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 22.02. The latest book value of the company is Rs 83.41 per share. At current value, the price-to-book value of the company is 2.18.

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