Investors Relations
Investors Services
Annual Report
Subsidiaries Annual Report
Quarterly Reports
Analyst Presentation
Shareholder Information
Corporate Responsibility
Unclaimed Dividend
Unclaimed Shares
FAQs and Forms
Press Release / Corporate Announcement
FY 2009 to 2012
FY 2012 to 2013
FY 2013 to 2014
FY 2014 to 2015
FY 2015 to 2016
FY 2016 to 2017
FY 2017 to 2018
FY 2018 to 2019
FY 2019 to 2020
Demerger Scheme
Subscribe for alerts
CVCI Private Equity Investment

CVCI Private Equity to Make Investment in Cox & Kings Ltd’s UK Subsidiary
Mumbai, 21th August 2012 - investment funds advised by Citi Venture Capital International (“CVCI Private Equity”) entered into binding agreements with Cox & Kings Ltd (“CKL”) to acquire a significant minority stake in its wholly owned subsidiary, Prometheon Holdings UK Limited (“Prometheon”).

In September 2011, Prometheon acquired UK based Holidaybreak, plc (“Holidaybreak”) for 311.4 million. In May 2012, CKL’s Board approved raising additional capital of up to US$140 million in Prometheon, following which CVCI Private Equity has agreed to invest US$137.75 million in Prometheon. The investment proceeds will be largely used to retire part of the debt raised by Prometheon for the Holidaybreak acquisition. The completion of the transaction is subject to the fulfillment of customary conditions including receipt of regulatory approvals.

According to Peter Kerkar, Director, CKL, “We see many opportunities to consolidate, grow and over time export the competences built over decades in Holidaybreak’s different divisions, building new revenue streams in significant markets like Australia and India. Holidaybreak has a strong education travel business in Europe which has grown despite difficult business conditions in the region. Holidaybreak also has leading brands in the Adventure, Camping and Hotelbreaks divisions. This transaction is a reflection of the confidence that CVCI Private Equity, as an established, highly reputed and large private equity fund, has placed in us and our decision to acquire Holidaybreak. The investment reflects our commitment to rapidly grow this business.” CKL was advised by India Infoline on the transaction.

According to Sunil Nair, Managing Partner (India, Europe, Middle East, Africa), CVCI Private Equity, “We are excited about partnering with CKL in its acquisition of one of Europe’s leading education and activity travel businesses. We expect Holidaybreak to benefit from synergies arising from its association with CKL. This investment is part of CVCI’s strategy of leveraging its cross-border capabilities to back strong companies from emerging markets as they expand their global presence. We look forward to working with Peter and his team to develop this business.”

About Cox & Kings Limited
Cox & Kings Limited (CKL) is the longest established travel company in the world since 1758. Headquartered in India, CKL is an international travel and tours company with operations in 26 countries, including India, United Kingdom, Germany, Netherlands, Austria Japan, Australia, United States and Dubai. CKL has several market leading brands in each of its three business segments – leisure travel, education travel and camping holidays. The company has won several awards for its services including “Best Outbound Tour Operator of the Year” awarded by TAAI Travel Awards 2011 and “Best Luxury Operator” awarded by Globe Travel Awards 2012. Additional information may be found at

About CVCI Private Equity
CVCI Private Equity is a leader in global emerging markets private equity investing, and currently manages over $7 billion in equity investments and committed capital. CVCI Private Equity has an internationally integrated investment team of over 50 professionals worldwide with a local presence in Singapore, Mumbai, New Delhi, Hong Kong, London, New York and Santiago. Since 2001, private equity funds advised by CVCI Private Equity have been active investors in India and Europe including several deals in the consumer sector. CVCI Private Equity is part of Citibank, N.A. and Citi. Additional information may be found at

About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at | Twitter: @Citi | YouTube: |
Blog: | Facebook: | LinkedIn:

Cox & Kings Ltd Citi
Thomas C. Thottathil, AVP - Corporate Communications
T: +91-22-22709100 E:
Duncan Smith
T: +44-20-7508-7281