Cox & Kings Limited ("C&K"), India's leading travel company, has entered into an agreement to sell its education business to Midlothian Capital Partners ("MCP"), a leading UK-based investor for all-cash enterprise value of GBP 467 million (Rs.4,387 Crores at today's exchange rate). The transaction is subject to regulatory approvals, consents and customary closing adjustments.

The education business is comprised of HB Education Limited (formerly known as Holidaybreak Education Limited) which is a wholly owned subsidiary of Holidaybreak Limited. The sale is in line with C&K's stated goal of unlocking value and maximizing shareholder returns.

HB Education Limited provides experiential learning programmes for students, through Residential Activity Centres and Educational Travel Tours. Its programmes are curriculum-linked and enable teachers to reinforce students' knowledge and understanding as well as develop students' resilience, confidence and interpersonal skills. The Company's portfolio of brands including PGL, NST, EST, Travelworks and Studylink provide learning experiences for school students aged] through 18, and up to university.