More than eight bidders have emerged for Thomas Cook’s business in India which is being sold to trim debts.
Private equity firms Kohlberg Kravis Roberts and Carlyle Group have been named as among those showing interest in the 77% holding in Thomas Cook (India), the country’s Business Standard reported.
Travelex along with Muthoot Finance, China’s HNA Group and Bravia Capital of Hong Kong have also submitted proposals for the holding, the Indian newspaper said.
Others in the race to acquire the Indian unit, which has a market value of $264.3 million, include Everstone Capital, T A Associates and Actis, it said.
A final decision on the bids is expected to be taken by July-August after a two-stage selection process.