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Friday, 06 September, 2019, 16 : 16 PM [IST]
Cox & Kings appoints merchant bankers for possible sale of Meininger business
By TBM Staff | Mumbai

Tour and travel services firm Cox & Kings on Wednesday said it has appointed merchant bankers for a possible sale of its Meininger hotels business, as it seeks to meet its financial obligations. 

In a regulatory filing, Cox & Kings said as stated in its earlier stock exchange filings, the company proposes to meet its financial obligations through a combination of internal accruals and monetisation of assets, and is in the process of evaluating the potential of every business to generate cash flows. 

"We have appointed merchant bankers for a possible sale of our Meininger business," it added. 

Shares of Cox & Kings Ltd closed at INR 3.80 per scrip, down 4.76 per cent from its previous close.