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New Delhi, New York, and Johannesburg, 18 October 2016 – Two leading travel groups in India, Make My Trip Limited (NASDAQ: MMYT) and ibibo Group (owned by global technology group Naspers Limited (JSE: NPN)), have agreed to pursue a transaction that will combine the two businesses under MMYT, creating one of the leading travel groups in India that provides a one-stop shop for all Indian travellers and serves as a critical partner for travel industry suppliers.The combination will bring together a bouquet of leading consumer travel brands, including Make My Trip, goibibo, red Bus, Ryde and Rightstay, which together processed 34.1 mm transactions during FY2016.SJ) and has an ADR listing on the London Stock Exchange (LSE: NPSN). This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval.The proposed transaction will be submitted to the shareholders of Make My Trip for their consideration.We shall be hosting a conference call today at IST / CET / EST. About Make My Trip Make My Trip Limited is the parent company of Make My Trip (India) Private Limited, Make My Trip Inc.(USA), Make My Trip FZ LLC (UAE), Luxury Tours & Travel Pte Ltd (Singapore), Luxury Tours (Malaysia) Sdn Bhd, the Hotel Travel Group (Thailand) and the ITC Group (Thailand).
Make My Trip brings its strong brand, robust mix of domestic and outbound hotels and packages business and strong position in the air ticketing business.
Naspers companies connect people to each other and the wider world, help people improve their daily lives, and entertain audiences with the best of local and global content.
Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Allegro, Avito, Brainly, Codecademy, e MAG, Flipkart, letgo, Media24, Movile, Multi Choice, OLX, Pay U, Show Max, Similar Web, Twiggle, and Udemy.
ibibo Group, via its brand goibibo and red Bus, comes with a strong presence in various fast growing travel segments including hotels, bus bookings and air ticketing.
Following the closing of the proposed transaction, Founder Deep Kalra will remain Group CEO and Executive Chairman of Make My Trip and Co-founder Rajesh Magow will continue to remain CEO India of Make My Trip.