Thomas Cook India buys 51% stake in Dubai-based Digiphoto

Madhavan Menon, chairman and managing director, Thomas Cook India.

Thomas Cook India Ltd has acquired 51% stake in Dubai-based Digiphoto Entertainment Imaging at an enterprise valuation of $40.6 million ( ₹289 crore), the travel firm said Monday.

“The acquisition marks Thomas Cook India Group’s entry into an adjacent sector, complementary to its travel and travel related services portfolio and is both profit after tax (PAT) and free cash accretive from day one,” the company said in a statement.

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