Various blue-chip private equity firms including Standard Chartered Private Equity, ChrysCapital and Multiples Alternate Asset Management are in talks to invest in B2B travel platform Travel Boutique Online (TBO).
Naspers Plans to Take an Exit
Naspers which invested about Rs 120 crore in Tek Travels, the parent of TBO, and which also holds a 52% stake in the venture was looking to exit its five-year-old bet in the company. Naspers is hoping to acquire between $85 million and $100 million in lieu of its interest in the organization, which posted income of over Rs 200 crore in the monetary year finished March 2016.
TBO Founders Offer to Buy Naspers Stake
TBO organizers Ankush Nijhawan and Gaurav Batra, who claim the staying 48% of the organization, have offered to purchase out Naspers’ stake in the organization. Naspers, which tallies Flipkart, India’s biggest web-based business organization, and nourishment conveyance stage Swiggy among its portfolio in the nation, has been a standout amongst the most compelling financial specialists in India’s quickly developing on the web travel area.
MakeMyTrip Announces Acquisition of Ibibo Group
MakeMyTrip announced the acquisition of Ibibo group in October last year, a deal which marked an arrangement that denoted the biggest union to have occurred in the nation’s web part and saw both key financial specialists turning into the biggest investors in the combined entity.
TBO offers services such as airline, train and hotel reservations and holiday package deals to travel agents and acts as an aggregator of these services.