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India: Ctrip’s MakeMytrip buy gets OK

By  |  August 21, 2019

Indian regulator Competition Commission of India (CCI) has approved the acquisition of 42.5% of outstanding voting shares in MakeMyTrip by Chinese online travel agency Ctrip.

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    Ctrip holds nearly half of the Indian online travel firm after this acquisition. Ctrip has acquired the additional stake in MakeMyTrip in a swap deal with South Africa-based Naspers which received a 5.6% stake in Ctrip in exchange. The transaction values MakeMyTrip at over US$2.57 billion.

    Ctrip’s earlier stake in MakeMyTrip came through a US$180 million investment in convertible bonds in January 2016.

    Full Content: Travel Daily Media

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