Citi Venture Fund Puts $138M Into Indian Tour Operator

Law360, New York (August 22, 2012, 2:07 PM EDT) -- A venture capital fund managed by Citigroup Inc. has made a significant minority investment in the U.K. business unit of Indian travel company Cox & Kings Ltd. for $137.6 million to help the company reduce its debt, Cox & Kings said Tuesday.

The investment, made by Citi Venture Capital International, will be used by U.K.-based Prometheon Holdings Ltd. to retire debt raised for a 2011 acquisition of a rival U.K. tour company.

The deal is subject to regulatory approval and is expected to close later this...
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