India's OYO to buy @Leisure for $415 million: source
1 May 2019 8:09 AM GMT
Indian hotel startup OYO will buy European vacation rental group @Leisure for about 370 million euros ($415.29 million) from German media company Axel Springer and other shareholders, said a source fa...
- BENGALURU (Reuters) - Springer, publisher of the Bild tabloid, on Wednesday it would sell its majority stake in @Leisure for 180 million euros, including the repayment of a shareholder loan of around 60 million euros, to focus more on StepStone Group and AVIV Group in the classifieds media business.
- Europe will be OYO's largest market accounting for up to 40 percent of total supply.
- Sources told Reuters last month that home-renting company Airbnb would invest between $100 million and $200 million in OYO.
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