MakeMyTrip Re48.15 billion acquisition of Ibibo Group

Overview:

• MakeMyTrip, has acquired Ibibo Group (Ibibo) from Naspers and Tencent for Re48.15 billion.
• This is the biggest consolidation in India's online travel agency business to date and is expected to close by the end of 2016.
• The transaction will transfer all brands under Ibibo Group, including Goibibo, redBus, Ryde and Rightstay to MakeMyTrip.
• According to Morgan Stanley, the value of the combined entity is approximately $1.8 billion.
• Naspers and Tencent, will become the single largest shareholder in MakeMyTrip after the sale.

Wai Yee Tsang - Journalist