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MakeMyTrip acquires Ibibo brands, creating India's largest online travel firm

( October 19, 2016, 04:05 GMT | Insight) -- India's online travel company MakeMyTrip has acquired Ibibo Group’s travel business in an all-stock deal estimated to be worth $720 million, Live Mint reports. Indian online travel company MakeMyTrip has acquired Ibibo Group’s travel business in an all-stock deal estimated to be worth $720 million, Live Mint reports. A note from Morgan Stanley indicated the merged entity would be valued at $1.8 billion. Ibibo owners Naspers and Tencent will hold the single-largest share in the merged company with a 40-percent stake. China’s Ctrip will gain a 10-percent stake in the merged entity, having committed in January to invest $180 million in MakeMyTrip through the purchase of convertible bonds. The transaction is expected to be completed by the end of 2016.  ...

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