Ebix To Buy Yatra Online For $239 Million In Its Biggest Bet On Travel

Ebix To Buy Yatra Online For $239 Million In Its Biggest Bet On Travel


India, America

Bloomberg Quint


Ebix Inc. said it will buy online ticketing platform portal Yatra Online Inc. for $239 million in its biggest acquisition deal yet as it looks to strengthen its hotel and flight booking business.

According to the Ebix-Yatra deal, each Yatra ordinary share convertible into Ebix common stock would be valued, on an as-converted basis, at $4.90 per share, representing about 32 percent premium to Yatra’s closing share price on March 8.

Ebix had offered to acquire Yatra in March at a price of $7 per share, a premium of roughly 84 percent to Yatra’s close at that time. The final price was adjusted due debt and working capital, Ebix said.

Continue reading

Post a Comment

0 Comments