Nasdaq-listed MakeMyTrip Ltd (MMYT) has announced a change in the company’s shareholding as Naspers and Ctrip International have entered into a share exchange transaction agreement. Naspers will exchange its entire shareholding in MakeMyTrip for newly issued shares of Ctrip and Ctrip will acquire Naspers’ current shareholding in MMYT. … Post the transaction, Naspers will own 5.6 percent of Ctrip’s outstanding ordinary shares, and Ctrip and the third-party investment entity will own ordinary shares and class B shares of MakeMyTrip representing approximately 49 percent and 4 percent of MakeMyTrip’s total voting rights, respectively. — Moneycontrol

S&R Associates advised MakeMyTrip Limited led by a team of partner Rajat Sethi, counsel Simran Dhir, associates Dhruv Agarwal and Ishika Rout.

2019-04-26

Deal value: Confidential

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