Cox & Kings (C&K), the leading holidays and education travel group having operations in 22 countries, today announced that its 100% subsidiary Prometheon Enterprises (PEL) has sold 11.58% stake in Prometheon Holdings (UK) (PHUK) to an investee company of SSG Capital Management.

PEL earlier held 65.58% of PHUK, which houses the Education and Hybrid hotels businesses. Post stake sale, Cox & Kings will hold 54% of PHUK through PEL while SSG Capital will hold 46%. In November 2017, SSG Capital had bought The Rohatyn Group's (TRG) entire stake of 34.42% in PHUK.

PGL and NST are leaders in the experiential learning space in the UK and have taken the product to Australia. The business is attracting strong volumes in inbound student traffic from Europe and China. In the meantime, Meininger has evolved as the leader in the high growth hybrid hotel-hostel space and is setting up new hotels at a rapid pace across major cities in Europe.

Shares of the company declined Rs 3.2, or 1.32%, to trade at  Rs 239.90.  The total volume of shares traded  was  2,056 at the BSE (12.05 p.m., Thursday).