Cox & Kings Ltd has announced that its 100% subsidiary Prometheon Enterprises Ltd (PEL) has sold 11.58% stake in Prometheon Holdings (UK) Limited (PHUK) to an investee company of SSG Capital Management.
PEL earlier held 65.58% of PHUK, which houses the Education and Hybrid hotels businesses. Post stake sale, Cox & Kings will hold 54% of PHUK through PEL while SSG Capital will hold 46%. In November 2017, SSG Capital had bought The Rohatyn Group's (TRG) entire stake of 34.42% in PHUK.
PGL and NST are leaders in the experiential learning space in the UK and have taken the product to Australia. The business is attracting strong volumes in inbound student traffic from Europe and China. In the meantime, Meininger has evolved as the leader in the high growth hybrid hotel-hostel space and is setting up new hotels at a rapid pace across major cities in Europe.
Shares of Cox & Kings Limited was last trading in BSE at Rs.241.2 as compared to the previous close of Rs. 243.1. The total number of shares traded during the day was 4563 in over 155 trades.
The stock hit an intraday high of Rs. 247 and intraday low of 238.5. The net turnover during the day was Rs. 1107805.