Naspers Offloads Its Entire MakeMyTrip Stake To Chinese Travel Agency Ctrip
Naspers will exchange its entire shareholding in MMT for shares of Ctrip while the later will acquire Naspers? current shareholding in MMT.
- After selling Flipkart stakes to Walmart, South African Internet conglomerate Naspers has now sold its stake in online travel company MakeMyTrip
- MakeMyTrip said that Naspers will exchange its entire shareholding in the company for newly issued shares of Ctrip while the later will acquire Naspers' current shareholding in MMT.
- Along with the share exchange, Ctrip will invest certain ordinary shares and class B shares of MakeMyTrip in a third-party investment entity.
- Currently, it is also subject to customary closing conditions, including the requisite regulatory approvals.