News: Thomas Cook India plans overseas buyouts

(RTR 29/03/2006) Mumbai - Travel and foreign exchange firm, Thomas Cook India Ltd., plans to buy three overseas companies next financial year, Chairman, Udayan Bose, said on Tuesday.

"The acquisitions will be within the areas we are in," Bose told reporters before the start of its annual general meeting said, without offering further details.

“Dubai Financial LLC, a subsidiary of Dubai Investment Group, acquired 60 per cent in Thomas Cook India in December. Dubai Financial then acquired a further 8 per cent through an open offer made to the shareholders,” Bose said.

Europe's Thomas Cook is jointly owned by airline Deutsche Lufthansa and German retailer KarstadtQuelle.