Trouble brewing?
According to a media report, Quess’s (a subsidiary of Thomas Cook), IPO hit road block. There is a difference of opinion between Prem Watsa and the original promoters of Quess. The company had acquired 74 percent stake in Quess (earlier known as IKYA) in February 2013 for Rs 256 crore. As on September 8, 2015: Watsa’s Fairfax holds 67.86 percent stake in Quess. The remaining 32.1 percent Stake in Quess is held by Ajit Isaac and employees. Report says that Thomas Cook is against allowing Isaac to increase his ownership to higher than 25 percent. Quess contributes around 80 percent to consolidated topline and 50-55 percent to EBIT. CNBC TV18 has not verified the story independently and can not vouch for it’s authenticity
| Subscribe To Our Free Newsletter |
