Days Trial. Ctrip to Take Major Stake in India's MakeMyTrip Via Share Swap (Yicai Global) April 29 -- Ctrip.Com International, China's largest travel agency, aims to become Indian travel booker MakeMyTrip's largest shareholder via a stock swap, which may spur the Chinese firm's expansion in the Indian market. „TechCrunch“ yra „Verizon Media“ dalis. Ctrip has given up almost 6% of its shares in order to gain a 49% stake in MakeMyTrip, the Indian online travel agency where it's had an interest since 2016. Both Ctrip and MakeMyTrip are listed on the Nasdaq. Ctrip, Prosus & Naspers: Relevant read: MakeMyTrip revenue scales to over 25% in Q2. For one thing, it isn’t really all that Indian anymore after Chinese travel giant Ctrip, a stakeholder in the company since 2016, acquired a controlling stake in the company through a share … Ctrip announced the transaction on April 26. Ctrip and Naspers invested $330 million in MakeMyTrip around two years ago. Users can also access other travel-related services like visa processing and travel insurance that are provided by third party vendors . And in late April, Ctrip gained a 49% stake in MakeMyTrip following a share exchange agreement with Naspers. The Birth of a New Beginning During a Pandemic. In fact, around the time of the IPO, they were keen to come on board. So it has been a long-standing relationship. Entire country is divided into two groups - one is out to blame Modi and the second to defend Modi. Ctrip holds nearly half of the Indian online travel firm after this acquisition. Hotel. MakeMyTrip stakeholder, Ctrip.com is increasing its stake in the Indian travel company, bring its portion to 49 percent The Competition Commission of India (CCI) has approved the acquisition of additional shares of MakeMyTrip (MMT) by Chinese travel giant Ctrip.com International. Business Travel. Jane Sun, the CEO right now, used to be the CFO in 2010. Online Travel Agency. The Share Exchange Transaction allows Ctrip to enjoy a larger exposure to the India travel market and benefit from the growth of MakeMyTrip. For reprint rights: Hedging risks: In a world without travel, MakeMyTrip is diversifying, MakeMyTrip launches Special Bubble Holidays to give a 'safe and all-inclusive' option to travelers, MakeMyTrip and Meru join hands to provide journey to air travellers, MakeMyTrip partners with hotels to launch online gourmet delivery service. Ctrip. 15 MakeMyTrip’s market capitalization is around $2.69 billion, whereas that of Ctrip is at $23.5 billion. Your Reason has been Reported to the admin. Galite bet kuriuo metu keisti savo pasirinkimus puslapyje „Jūsų privatumo valdymo funkcijos“. 9/19/2019 11:32:23 PM. Norėdami leisti „Verizon Media“ ir mūsų partneriams tvarkyti jūsų asmens duomenis, pasirinkite „Sutinku“ arba pasirinkite „Tvarkyti nuostatas“, jei norite gauti daugiau informacijos ir valdyti savo pasirinkimus. Distribution. Inciting hatred against a certain community, 15 Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. The Passage: How does Ctrip's 49% stake in MakeMyTrip change things for the company? The company's market capitalisation stood at $687 million after the deal. The company increased its ownership by entering a share swap deal with Naspers, the South African tech and internet conglomerate, which will exchange its stake in MakeMyTrip for newly issued shares in Ctrip. This will alert our moderators to take action. New York, April 26, 2019 (GLOBE NEWSWIRE) - New York and New Delhi, April 26th, 2019 MakeMyTrip Limited (Nasdaq: MMYT) (“MakeMyTrip”) today announced a change in the company’s shareholding as Naspers Limited (“Naspers”) and Ctrip.com International, Ltd. (Nasdaq: CTRP) (“Ctrip”) entered into a share exchange transaction agreement. But Ctrip’s shareholding fell after MakeMyTrip announced a stock merger with Ibibo, which was owned by Naspers. Days Trial While Naspers took a 5.6% stake in Ctrip in exchange, the deal valued MakeMyTrip at over USD2.57 billion. New Delhi: Chinese travel company Ctrip International will become the largest stakeholder in homegrown online travel operator MakeMyTrip (MMT) after South African tech and internet conglomerate Naspers sells its stake in the Gurgaon-based, Nasdaq-listed company in a shareswap deal. Ctrip.com International Ltd, China's largest online travel agency, is investing $180 million for a quarter share in its Indian counterpart MakeMyTrip Ltd. Chinese travel services company Ctrip.com International will become the largest shareholder in MakeMyTrip by buying South African technology conglomerate Naspers’ entire stake in the Nasdaq-listed travel portal. Informacija apie jūsų įrenginį ir interneto ryšį, įskaitant jūsų IP adresą, Naršymas ir paieška naudojantis „Verizon Media“ svetainėmis ir programomis. While Ctrip has a market capitalisation of more than $24 billion, MakeMyTrip is about a tenth of the Chinese company’s size on this metric but remains the market leader in India. Ctrip will own around 49% of MakeMyTrip's total voting rights. Somebody will work and make the opportunity theirs. The Shanghai-based travel services provider has reportedly acquired the additional stake in the Indian firm in a swap deal with South Africa-based media company Naspers. Daugiau informacijos apie tai, kaip naudojame jūsų informaciją, rasite mūsų privatumo taisyklėse ir slapukų taisyklėse. The transaction values MakeMyTrip at over USD 2.57 billion based on Ctrip share price early on Tuesday. Naspers will sell its entire stake in MakeMyTrip to Chinese travel services provider Ctrip.com International Ltd, MakeMyTrip said in a statement on Friday. Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. The investment in MakeMyTrip follows a deal signed late last year that led to Ctrip acquiring a 45% stake in its Chinese rival, Qunar. Naspers has swapped its interest in MakeMyTrip for a 5.6% stake in China's Ctrip.com International in a move that will broaden its online travel exposure while deepening Ctrip's ownership of the Indian company. Mes su savo partneriais saugosime ir (arba) turėsime prieigą prie informacijos jūsų įrenginyje naudodami slapukus ir panašias technologijas, kad galėtume rodyti suasmenintas reklamas ir turinį, vertinti reklamas ir turinį, matuoti auditoriją ir kurti produktus. In a tweet, the CCI on Tuesday said it "approves the acquisition of additional outstanding voting securities of MakeMyTrip Limited by Ctrip.com International Limited". Concurrent with the share exchange, Ctrip will invest certain ordinary shares and class B shares of MakeMyTrip in a third-party investment entity. MakeMyTrip Limited on Friday said that its investor Naspers Limited and Chinese travel services provider Ctrip have entered into a share exchange agreement. It didn’t disclose financial details. Let's reshape it today, Hunt for the brightest engineers in India, Choose your reason below and click on the Report button. In a statement, MakeMyTrip said the two strategic investors had entered into a share exchange agreement. Ctrip.com International, Ltd. announced a share exchange transaction with Naspers Limited, pursuant to which Naspers will exchange its stake in MakeMyTrip Limited for newly issued shares in Ctrip. South Africa-based Naspers has decided to sell its entire stake in MakeMyTrip to the Chinese travel company Ctrip International in a share swap deal. In a tweet, the CCI on Tuesday said it "approves acquisition of additional outstanding voting securities of MakeMyTrip Limited by Ctrip.com International Limited". The team has not changed either. Naspers announced today an exchange of its stake in MakeMyTrip Limited (“MakeMyTrip”) (NASDAQ:MMYT) for a 5.6% stake in Ctrip.com International Limited (“Ctrip”) (NASDAQ:CTRP), a well-known provider of online travel and related services headquartered in China. Post-transaction, Ctrip.com — an existing stakeholder in MMT — will increase its stake in the Indian travel company to 49 per cent. Online travel major sets sights on burgeoning Indian tourism market. MakeMyTrip has a current market cap of $2.69 billion while Ctrip’s current share price gives it an overall valuation of $23.5 billion. Ctrip buys stake in MakeMyTrip. 2016-01-09 11:51 China Daily Editor: Huang Mingrui. Ctrip holds nearly half of the Indian online travel firm after this acquisition. MakeMyTrip revenue and bookings up more than 25%, operating losses down more More on Distribution. 1. MakeMyTrip was founded by Deep Kalra, Keyur Joshi and Rajesh Magow in 2000. +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. MakeMyTrip has transformed travel in India and beyond since 2000. Revenue managers who play a pivotal role in … Airline. It’s been an eventful year for India’s largest online travel agent (OTA), MakeMyTrip. Ground Transportation. It also allows MakeMyTrip to benefit from Ctrip’s significant global scale. Businesses like this will have personal identification details and ownership of such data by foreign companies can be a security risk. Ctrip already held a stake in the Gurugram-based company through a $180 million investment in 2016. Ctrip.com, China's largest travel site, is buying a stake in India's largest travel portal MakeMyTrip for $180 million (around Rs 1,200 crore) via convertible bonds, which will allow it to tap into the growing base of Indian consumers who use smartphones to book tickets and holidays. The share exchange has come about following an agreement with one of MakeMyTrip's investors, Naspers. MakeMyTrip - Business Model and Revenue Model . On paper, each stake is worth around $1.3 billion. Sharp Insight-rich, Indepth stories across 20+ sectors, Access the exclusive Economic Times stories, Editorial and Expert opinion, Naspers exits MakeMyTrip, leaves Ctrip largest stakeholder in portal. In 2016, Naspers and China's Tencent, which owned 91% and 9% … Chinese travel company Ctrip International will become the largest stakeholder in homegrown online travel operator MakeMyTrip (MMT) after South African tech and internet conglomerate Naspers sells its stake in the Gurgaon-based, Nasdaq-listed company in a share-swap deal. Date. Rajesh Magow: Ctrip had been monitoring MakeMyTrip’s story even before they invested in us. MakeMyTrip lets users book air tickets, bus tickets, buy holiday packages, book hotel accommodations, and hire vehicles. Customers provide passport details and contact information. Ctrip has acquired the additional stake in MMT in a swap deal with South Africa-based Naspers which received a 5.6% stake in Ctrip in exchange. Post-transaction, Ctrip.com -- an existing stakeholder in MMT -- will increase its stake in the Indian travel company to 49 per cent. The transaction values MMT at over $2.57 billion based on Ctrip share price early on Tuesday. 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. We are falling prey to chinese money and tech superiority, look at Tik-Tok the latest chinese video two out of three users are indians, five out of ten big aps in india are chinese,we speak only of nationalism do nothing ,to feed our tech hungry children. Bengaluru: Ctrip.com, China's largest travel site, is buying a stake in India's largest travel portal MakeMyTrip for $180 million (around Rs 1,200 crore) via convertible bonds, which will allow it to tap into the growing base of Indian consumers who use smartphones to book tickets and holidays. Ctrip first picked up a 15% stake in MakeMyTrip for $180 million in January 2016 with plans to increase its shareholding to 26% through market purchases. Tomorrow is different. The share exchange transaction allows Ctrip to enjoy a larger exposure to the India travel market and benefit from the … Travel Booking. Finance. MakeMyTrip. Naspers leaves MakeMyTrip, Ctrip largest stakeholder in portal now. The Indian travel company to 49 per cent galite bet kuriuo metu keisti savo pasirinkimus „! Company to 49 per cent class B shares of MakeMyTrip 's investors, Naspers on Ctrip price! 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