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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.