Tata Capital has signed a definitive agreement to divest its shareholding in its wholly owned subsidiaries - Tata Capital Forex Ltd (foreign exchange) and TC Travel and Services Ltd (travel services) -- to Thomas Cook (India) Ltd.

The network of the two acquired companies currently spans 26 locations and approximately 300 employees. These companies will continue to run under the Tata Capital management, in consultation with Thomas Cook on specific matters, till the closing date when the share sale will be consummated.