Cox & Kings Ltd’s wholly-owned subsidiary, Prometheon Holdings (UK) Ltd, will receive an investment of USD 140 million from Citi Venture Capital, a unit of Citigroup, N A. On May 15 this year, Cox & Kings informed stock exchanges that its board had approved the said investment from an institutional investor for a minority stake in the subsidiary company.
“Cox & Kings itself is becoming a global player, and multinational corporations are investing into the global strategy. Also, it could be partly about financing future acquisitions by Cox & Kings,” Ram Badrinathan, Founder and Chief Executive, GlobalTHEN, a travel consultancy run by Island Education Pvt Ltd, was quoted as saying in a report by P R Sanjai in the Mint. |