Cox038;Kings gets Holidaybreak shareholders8217; nod for acquisition

8220;At both the court meeting and the general meeting shareholders approved the scheme by the requisite majorities,8221; the filing said.

Commenting on the development,Cox amp; Kings Director Peter Kerkar said: 8220;Cox amp; Kings is pleased with the outcome of the shareholder meeting held in London on September 2,2011. It stands committed to work along with Holidaybreak to create a vibrant and value-creating enterprise.8221;Following the passing of these resolutions,it is expected that the court hearing to sanction the scheme will be held on September 22,2011,it added.

8220;The Court hearing to approve the reduction in capital will be held on September 26,2011,8221; the filing added. In July this year,Cox amp; Kings had said it would acquire Holidaybreak for 312 million pound around Rs 2,250 crore. The acquisition would be done through Cox amp; Kings8217; wholly- owned subsidiary Prometheon Holdings. Cox amp; Kings8217; scrips on the BSE closed at Rs 220.70 per share,up 3.06 per cent from the previous close.