Mumbai, Dec. 1: Thomas Cook India Ltd will acquire the entire shareholding of Travel Corporation of India (TCI) in an all-cash deal worth Rs 182.45 crore.

After the acquisition, TCI will become a wholly owned subsidiary of Thomas Cook.

In a statement to the Bombay Stock exchange, Udayan Bose, chairman of Thomas Cook, said, “The combination of Thomas Cook India and TCI would bring together two successful and customer-focused companies that are committed to provide travellers across the country with the best travel products and services.”

In August 2006, the company had announced the merger of LKP Forex with itself following a share swap ratio of 11:20 or 11 shares of Thomas Cook for 20 shares of LKP. LKP Forex was a subsidiary of LKP Merchant Financing Ltd, the holding company of the LKP Group.

“Thomas Cook India and LKP Group has entered into a non-binding MoU to explore the merger of LKP Forex, the foreign exchange arm of the LKP Group, with the company through a scheme of amalgamation to be approved by the shareholders of both companies and Bombay High Court,” the company had said.

Following the acquisition of TCI, the combined businesses of Thomas Cook will make this group one of the largest travel and tour operators in India apart from being the largest in forex.

Jehangir Katgara, director of TCI, said, “Mergers and acquisitions are strengthening organisations all over the world and India is no exception.” He will continue to be on the board of TCI.

The shares of Thomas Cook today ended 9.9 per cent up at Rs 564.02 on the BSE.