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shankar s. via flickr
According to Ctrip.com International, the company signed an agreement with main part of Skyscanner Holdings Limited’s shareholders. The deal’s terms imply that the Chinese company will buy their shares and will offer to buy back securities from remaining shareholders. Skyscanner Holdings Limited has been estimated at approximately £ 1,4 billion ($ 1.74 billion). Bulk of this amount will be paid in cash, the rest – in Ctrip’s ordinary shares and debt securities.
BODs of both companies have already approved the transaction. "Skyscanner’s management team will continue to manage operations independently within Ctrip group," - said Ctrip in a statement.
Skyscanner Holdings Limited was founded in 2001. The company owns a global travel search site, as well as hotels and car rentals. In 2007, Scottish Equity Partners acquired 40% of Skyscanner for £ 2.5 million. In 2013, Skyscanner bought Fogg, search service for hotels. The same year, Sequoia Capital acquired a share in the company’s capital; Skyscanner estimated at $ 800 million on the eve of the transaction. In January 2016, Skyscanner was funded by Artemis, Baillie Gifford, Khazanah Nasional Berhad, Vitruvian Partners and Yahoo! JAPAN. According to The Financial Times, Skyscanner was evaluated at $ 1.6 billion in total on the eve of the $ 192 million-worth deal.
Internet portal Ctrip.com was founded in 1999. The company helps book hotels and cheap flights. It employs more than 30 thousand people, and its securities are traded on the NASDAQ since 2003. Ctrip’s market cap totals $ 19 billion
Meanwhile, the US online platform for private rental accommodation Airbnb is now talks to buy Chinese competitor Xiaozhu.com, reports The Wall Street Journal, citing a source.
Airbnb has a relatively small presence in China. The country has only 30 employees, yet there are 75 thousand registered living places, compared with 3 million around the world.
In September, Airbnb attracted $ 850 million during another round of funding for. The company then was assessed at $ 30 billion ($ 105 per share) in total.
Xiaozhu, Airbnb’s look-alike, was launched in 2011. The Chinese market in this segment is reigned by Tujia.com, its cost is estimated at $ 1 billion.
According to the World Tourism Organization (UNWTO), in the first half of 2016 number of international tourist arrivals increased by 4% in comparison with the same period last year.
In the reporting period, 561 million people to international destinations traveled, which is 21 million more than during the same period in 2015. These data are presented in the latest UNWTO World Tourism Barometer study.
The Asia-Pacific region is the most active is still. It showed 9%-growth in number of international arrivals, which was the largest of any region in the world. In America, number of foreign tourists increased by 4%. As for Europe, although the region showed overall growth of 3%, there results are actually has mixed: steady growth in some countries is offset by lower performance in others.
source: ft.com, wsj.com
BODs of both companies have already approved the transaction. "Skyscanner’s management team will continue to manage operations independently within Ctrip group," - said Ctrip in a statement.
Skyscanner Holdings Limited was founded in 2001. The company owns a global travel search site, as well as hotels and car rentals. In 2007, Scottish Equity Partners acquired 40% of Skyscanner for £ 2.5 million. In 2013, Skyscanner bought Fogg, search service for hotels. The same year, Sequoia Capital acquired a share in the company’s capital; Skyscanner estimated at $ 800 million on the eve of the transaction. In January 2016, Skyscanner was funded by Artemis, Baillie Gifford, Khazanah Nasional Berhad, Vitruvian Partners and Yahoo! JAPAN. According to The Financial Times, Skyscanner was evaluated at $ 1.6 billion in total on the eve of the $ 192 million-worth deal.
Internet portal Ctrip.com was founded in 1999. The company helps book hotels and cheap flights. It employs more than 30 thousand people, and its securities are traded on the NASDAQ since 2003. Ctrip’s market cap totals $ 19 billion
Meanwhile, the US online platform for private rental accommodation Airbnb is now talks to buy Chinese competitor Xiaozhu.com, reports The Wall Street Journal, citing a source.
Airbnb has a relatively small presence in China. The country has only 30 employees, yet there are 75 thousand registered living places, compared with 3 million around the world.
In September, Airbnb attracted $ 850 million during another round of funding for. The company then was assessed at $ 30 billion ($ 105 per share) in total.
Xiaozhu, Airbnb’s look-alike, was launched in 2011. The Chinese market in this segment is reigned by Tujia.com, its cost is estimated at $ 1 billion.
According to the World Tourism Organization (UNWTO), in the first half of 2016 number of international tourist arrivals increased by 4% in comparison with the same period last year.
In the reporting period, 561 million people to international destinations traveled, which is 21 million more than during the same period in 2015. These data are presented in the latest UNWTO World Tourism Barometer study.
The Asia-Pacific region is the most active is still. It showed 9%-growth in number of international arrivals, which was the largest of any region in the world. In America, number of foreign tourists increased by 4%. As for Europe, although the region showed overall growth of 3%, there results are actually has mixed: steady growth in some countries is offset by lower performance in others.
source: ft.com, wsj.com
