2 Min Read
Oct 18 (Reuters) - Makemytrip Ltd :
* MakeMyTrip Limited and ibibo Group announce transaction to consolidate their Indian travel businesses
* MakeMyTrip Ltd - Following closing of proposed transaction, founder Deep Kalra will remain group CEO and Executive Chairman of MakeMyTrip
* MakeMyTrip Ltd - Founder and CEO of ibibo Group, Ashish Kashyap, will join MakeMyTrip's executive team as a co-founder and President of organization.
* MakeMyTrip Ltd - Rajesh Magow will continue to remain CEO India of MakeMyTrip.
* MakeMyTrip Ltd - Ctrip will have an approximately 10% stake in combined entity
* MakeMyTrip Ltd - $180 million, 5-year convertible notes issued by MakeMyTrip to Ctrip.com in January will also be converted into common equity
* MakeMyTrip - Naspers, Tencent, through jointly owned holding co are selling ibibo Group to MakeMyTrip in exchange for issuance of new MakeMyTrip shares
* Makemytrip Ltd - Naspers and Tencent will become single largest shareholder in MakeMyTrip, owning a 40% stake
* Says Morgan Stanley is acting as exclusive financial advisor to MakeMyTrip
* Says Goldman Sachs is acting as exclusive financial advisor to ibibo and Naspers
* MakeMyTrip Ltd - Co, ibibo have agreed to pursue a transaction that will combine two businesses under co Source text for Eikon: Further company coverage: