New Delhi, April 17, 2018: Holidays, education and travel group Cox & Kings Ltd has announced on Friday that its 100% subsidiary Prometheon Enterprises Ltd (PEL) has sold an additional stake of 3 % in Prometheon Holdings (UK) Limited (PHUK) to an investee company of SSG Capital Management.

In the first tranche, had announced on March 22 2018 that PEL had sold 11.58% stake to SSG Capital Management. PEL along with C&K India earlier held 65.58% of PHUK, which houses the education and hybrid hotels businesses according to economictimes.indiatimes.com.

Pursuant to the stake sale in two tranches, Cox & Kings Group will hold 51% of PHUK through PEL & C&K India while SSG Capital will hold 49%. In November 2017, SSG Capital had first invested in PHUK when it bought The Rohatyn Group’s (TRG) entire stake of 34.42%. The 3% stake is valued at Rs 110 crore net of taxes.

Under PHUK’s portfolio, PGL and NST are in the experiential learning space in the UK while Meininger operates in the hybrid hotel-hostel space.