March 20 - Travel firm Thomas Cook (India) Limited said on Friday it would demerge its resorts and resort management business into its unit Sterling Holiday Resorts Limited, paving the way for a future listing of the fully owned subsidiary.
* Thomas Cook India, which owns and operates six resortsunder its Nature Trails brand, will transfer this business tothe unit as part of the scheme. * The demerger aims to improve earnings per share and enablesharper strategic and operational focus across businessverticals, the company said. * Under the scheme, shareholders will receive 0.81 shares ofSterling Holiday Resorts for every share held in Thomas CookIndia. * The company will retain its existing stake in the unit,with the shareholding pattern of both entities remaining similarpost-demerger. * Thomas Cook India said shares of Sterling Holiday Resortswill be listed on the BSE and NSE, without providing a timeline. * The demerger is subject to regulatory approvals, includingthat of the National Company Law Tribunal.(Reporting by Nishit Navin in Bengaluru; Editing by Shreya Biswas)
