MUMBAI: A unit of Cox and Kings (India) Ltd has acquired Australia-based MyPlanet Australia Pty Ltd & Bentours International Pty Ltd from a unit of TUI Travel Plc, the Indian firm said in a statement on Wednesday.
The Indian firm did not disclose the value of the deal but said the buyout was through an earn-out mechanism and it had not used funds that it had raised for acquisitions through a recent initial public offer.
Cox & Kings (Australia) Pty Ltd bought out the company from TUI Travel's First Choice Holdings Australia Pty Ltd.