Cox & Kings UK Unit Gets $137.75 Million Citi Venture Capital ...

Cox & Kings Ltd. (533144.BY) said Wednesday that investment funds advised by Citi Venture Capital International have agreed to acquire a ?significant? minority stake in the Indian company?s U.K. unit, Prometheon Holdings (UK) Ltd., for $137.75 million.

The proceeds will be used to repay part of the debt raised by Prometheon to buy Holidaybreak PLC U.K., a press release said.

In July 2011, Cox & Kings agreed to buy Holidaybreak, a leisure-activity-services company, for 312 million pounds ($492 million based on current exchange rates) to expand its business beyond the home market.

Prometheon has $330 million of debt, a Cox & Kings spokesman said.

-Write to Kenan Machado at kenan.machado@dowjones.com

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Source: http://avidinvestorgroup.com/2012/08/cox-kings-uk-unit-gets-137-75-million-citi-venture-capital-investment/

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