Being one of the pioneer companies in the travel portal industry MakeMy Trip is about to buy their biggest opponent ibibo Group to have the absolute surveillance in hotel, flight and bus booking periphery. The all-stock deal values the combined company at $1.5 billion, stated by an old-hat source with the deal. With this deal MMT will bring ibibo and redbus.com under their assortment, which owns the mother-brand and the interchange lodging site Rightstay.
Naspers Ltd (NPNJn.J) is a South-African firm which holds the maximum share of ibibo with a 91 percent stake and the rest of the share is in the name of Chinese company Tincent Holdings Ltd. (0700.HK). The accumulated valuation of the stake is $600 million according to some trusted source. MMT had a market capitalization of about $861.3 million as of Monday’s close. Cox & Kings Ltd ( COKI.NS), Thomas Cook (India) Ltd (THOM.NS) and newbie OYO rooms have been challenging competitive other companies of MMT in this online travelling industry.
For the last seven quarters MMT has been partially missing the profit estimates for the upper marketing costs, according to the Thomas Reuters I/B/E/S reports MMT will be probably holding a second quarter loss of 63 percent and total returns of $50 billion. As per the company sources this deal will whirl great possibilities in the entire online travel and tourism industry but there was no statement about the deal value. As reported by a gross booking tracking analyst the online travel market in India has an average gross booking of $10 billion in terms of over the year calculation.
Hitting conjointly 2year-high market valuation, MMT market share got an acceleration of 56.4 percent to $31.90 on this 18th of November. In conversation with a stock analyst MMT affirmed that the combined company will have the authority to regulate a market share of around 20 percent of the entire Indian online air booking industry, adding on there will be a single digit market share of this alliance in online hotel and bus booking.
Nasper and Tencent is going to own 40 percent of MMT shares after the deal closes by the end of this December. Also one of the eminent travel services providing company Ctrip.com International Ltd (CTRP.O) will be the owner of 10 percent stake in this coalition company. Ctrip.com is about to invest $180 million in MMT through the medium of convertible bonds. The founder of MMT Deep Kalra will be continuing the company as an executive chair person and chief executive chairperson of this new combined company. On this deal Morgan Stanley was the advisor to MMT and Goldman Sachs advised ibibo and Nasper on this deal. Online travel industry is looking forward to this deal eagerly.
By- LNN (Liyans News Network)
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Naspers Ltd (NPNJn.J) is a South-African firm which holds the maximum share of ibibo with a 91 percent stake and the rest of the share is in the name of Chinese company Tincent Holdings Ltd. (0700.HK). The accumulated valuation of the stake is $600 million according to some trusted source. MMT had a market capitalization of about $861.3 million as of Monday’s close. Cox & Kings Ltd ( COKI.NS), Thomas Cook (India) Ltd (THOM.NS) and newbie OYO rooms have been challenging competitive other companies of MMT in this online travelling industry.
For the last seven quarters MMT has been partially missing the profit estimates for the upper marketing costs, according to the Thomas Reuters I/B/E/S reports MMT will be probably holding a second quarter loss of 63 percent and total returns of $50 billion. As per the company sources this deal will whirl great possibilities in the entire online travel and tourism industry but there was no statement about the deal value. As reported by a gross booking tracking analyst the online travel market in India has an average gross booking of $10 billion in terms of over the year calculation.
Hitting conjointly 2year-high market valuation, MMT market share got an acceleration of 56.4 percent to $31.90 on this 18th of November. In conversation with a stock analyst MMT affirmed that the combined company will have the authority to regulate a market share of around 20 percent of the entire Indian online air booking industry, adding on there will be a single digit market share of this alliance in online hotel and bus booking.
Nasper and Tencent is going to own 40 percent of MMT shares after the deal closes by the end of this December. Also one of the eminent travel services providing company Ctrip.com International Ltd (CTRP.O) will be the owner of 10 percent stake in this coalition company. Ctrip.com is about to invest $180 million in MMT through the medium of convertible bonds. The founder of MMT Deep Kalra will be continuing the company as an executive chair person and chief executive chairperson of this new combined company. On this deal Morgan Stanley was the advisor to MMT and Goldman Sachs advised ibibo and Nasper on this deal. Online travel industry is looking forward to this deal eagerly.
By- LNN (Liyans News Network)
Register with www.liyans.com, the trending Property Portal of Kolkata for free to post your property requirement in Kolkata, our experts will get back to you in no times with the same property details you asked for. Booking/buying/selling property in Kolkata with us has been always a secured and satisfying deal.