Mumbai: Travel company Cox & Kings Group on Tuesday said it has sold 100 per cent shares in Explore Worldwide to Hotelplan UK Group for 25.8 million pounds.
Cox & King sold 100 per cent of the issued and outstanding shares of Explore Worldwide through its Holidaybreak Plc subsidiary, the company said in a release.
"The sale of this business helps us to further increase focus on our three key verticals - leisure, education and hybrid hotels (Meininger)," Cox & Kings director Peter Kerkar said.
Explore Worldwide Limited (which includes the brands Explore - soft adventure tours - and RegalDive - diving adventure specialist) generated net revenues of 11.2 million pounds and EBITDA of 2.3 million pounds in FY15.
Headquartered in India, Cox & Kings is a holidays and education travel group with operations in 22 countries across four continents.
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