Cox and Kings India (CKI) has bought Tempo Holidays, a specialist leisure travel company based in Australia. The deal was negotiated through CKI''s Australian Special Purpose Vehicle for approximately US$25 million. The acquisition has been funded by internal accruals and offshore debt from Axis Bank. Tempo Holidays was founded in 1990 by Susan and Gary Hearst in 1990 as Yalla Holidays. It was rebranded in 2001 as Tempo Holidays, which currently offers travel arrangements in over 42 countries.
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