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JSA, CAM act on $42m Naspers sale in Travel Boutique Online

South African media and technology conglomerate Naspers has sold its majority stake in B2B travel platform Travel Boutique Online (TBO), marking its second strong exit in India in the last three months. While the terms of the transaction were not disclosed, sources have told ET that Naspers, which had invested about Rs 110 crore in the company, has earned $42-45 million (Rs 285-306 crore) from its stake sale, giving it in the process a near 200% increase on its six year-old bet.
The Economic Times

J Sagar Associates advised Naspers Group and the founder of TBO led by a team of partner Sidharrth Shankar and Prakriti Jaiswal, senior associate CV Srikant, and associate Shweta Gupta; partner Kumarmanglam Vijay advised on the tax aspects of the transaction.

Standard Chartered was represented by Cyril Amarchand Mangaldas.

Jefferies was the investment banker for this transaction.

2018-07-18

Deal value: USD 42 million

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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