Naspers Offloads Its Entire MakeMyTrip Stake To Chinese Travel Agency Ctrip
26 April 2019 1:50 PM IST
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.
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