Thomas Cook India has acquired brand rights of the iconic UK travel firm from its erstwhile promoters for Rs 14 crore. After the acquisition, Thomas Cook will not undergo a name change in India and will now focus on business consolidation and new technologies, said company chair Madhavan Menon.

— Business Standard

Thomas Cook India (TCIL) announced … that it has signed an agreement with AlixPartners, Thomas Cook UK’s appointed liquidation managers to acquire the rights to the Thomas Cook Brand for India, Sri Lanka & Mauritius markets for a one time payment of about Rs 14 crore. TCIL was previously contracted to pay an annual brand licence fee of Rs 2 crore to Thomas Cook UK until 2024 for usage of the brand. — The Economic Times

Indian Law Partners (ILP) advised Thomas Cook UK (in administration) and Thomas Cook Indian IP Ltd (in administration) and Alix Partners as special managers led by a team of partners Gopika Pant and Vineet Gupta, senior associate Abhimanyu Kaul, associates Akshay Grover and Shubhangi Gupta.

AZB & Partners advised Thomas Cook India Limited led by a team of partners Divya Mundra and Nandan Pendsey, senior associate Pankhuri Govil.

Ashurst advised Thomas Cook UK on English law issues.

Deloitte was advising Thomas Cook India on tax issues.

AZB & Partners had also recently advised Thomas Cook India on its NCLT restructuring.

2019-12-01

Deal value: INR 14 crores

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