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News Breaks | | | | November 26, 2012 | | 14:57 EDT |  | MMYT | MakeMyTrip acquires majority interest in ITC Group
MakeMyTrip (MMYT) announced that it acquired an effective majority equity interest in a group of companies known as the "ITC Group". The ITC Group comprises of International Tour Center Co. Ltd., ITC Bangkok Co. Ltd. and ITC South Co. Ltd. Pursuant to the transaction documents signed with the ITC Group and its existing shareholders, MakeMyTrip paid USD 2.2M to the existing shareholders for the sale of their shares in the ITC Group and paid USD 1M for subscription of new shares in the ITC Group. MakeMyTrip will also acquire the remaining shares of the ITC Group from the existing shareholders in cash, payable in four tranches, over an earn-out period ending December 2016, at such price based on valuation linked to the future profitability of the ITC Group. | |
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News For MMYT From The Last 14 Days Check below for free stories on MMYT the last two weeks. |
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| June 14, 2013 | | 12:01 EDT |  | MMYT | MakeMyTrip files to sell 11.84M ordinary shares for holders
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