SHANGHAI, April 26, 2019 /PRNewswire/ -- Ctrip.com
International, Ltd. (Nasdaq: CTRP) ("Ctrip") today announced a
share exchange transaction with Naspers Limited ("Naspers"),
pursuant to which Naspers will exchange its stake in MakeMyTrip
Limited ("MakeMyTrip") for newly issued shares in Ctrip. Concurrent
with the share exchange, Ctrip will invest certain ordinary shares
and class B shares of MakeMyTrip in a third-party investment
entity. Post the transaction, Naspers will own approximately 5.6%
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 49.0% and
4.0% of MakeMyTrip's total voting power, respectively.
"Over the past years we have witnessed the great achievements of
MakeMyTrip, and we are confident that MakeMyTrip will extend its
success in the future," said James
Liang, Co-founder and Executive Chairman of Ctrip. "We are
also delighted to welcome Naspers to become our shareholder. Ctrip
will continue to work hard to create greater value to our
customers, our partners and all shareholders," Jane Sun, CEO of Ctrip commented.
Deep Kalra, Chairman and Group CEO of MakeMyTrip, said: "We are
grateful for the unstinting support Naspers has provided us over
the last couple of years. We have worked with Ctrip in the past
years and are excited to take this partnership to the next level.
We will leverage this investment to benefit from the tremendous growth potential in
travel and tourism between our two countries." Rajesh Magow,
Co-founder and CEO-India of
MakeMyTrip, continued: "Today's announcement provides a major boost
for MakeMyTrip and the rapidly growing travel industry in
India. This partnership will
benefit all our stakeholders including employees, customers and
business partners. We look forward to working with the Ctrip team
to continue to take our business to the next level."
"MakeMyTrip has transformed travel in India and beyond since 2000. The agreement we
have announced today is a significant step in the growth ambitions
of both MakeMyTrip and Ctrip and we believe continuing to support
them as a shareholder will create additional value for Naspers and
our shareholders," said Bob van
Dijk, Naspers CEO.
The transaction is expected to close as soon as practicable in
the second half of 2019 and is subject to customary closing
conditions, including the requisite regulatory approvals.
Conference Call
Ctrip's management team will host a conference call at
8:00AM U.S. Eastern Time on
April 26, 2019 (or 8:00PM on April 26,
2019 in the Shanghai/Hong
Kong Time) following the announcement.
The conference call will be available on Webcast live and replay
at: http://ir.ctrip.com. The call will be archived for twelve
months at this website.
Listeners may access the call by dialing the following
numbers:
US:
|
+1-855-8219-305 or
+1-240-254-3156
|
Hong Kong:
|
+852-3077-3569
|
China:
|
+86-800-820-8527 or
+86-400-612-6501
|
International:
|
+65-6653-5870
|
Passcode:
|
83655312#
|
For pre-registration, please click
http://event.onlineseminarsolutions.com/wcc/r/1992867-1/F5F3EF03AAC0E9B6FC07DA9D4EC7D517
A telephone replay of the call will be available after the
conclusion of the conference call until May
3, 2019. The dial-in details for the replay:
International dial-in
number:
|
+65-6653-5846
|
Passcode:
|
515101955#
|
About Ctrip.com International, Ltd.
Ctrip.com International, Ltd. is a leading provider of online
travel and related services, including accommodation reservation,
transportation ticketing, package tour and in-destination services,
corporate travel management, and other travel related services. It
enables business and leisure travelers to make informed and
cost-effective bookings by aggregating comprehensive travel related
information and offering its services through an advanced
transaction and service platform consisting of its mobile apps,
Internet websites and centralized, toll-free, 24-hour customer
service center. The family of travel brands mainly includes: Ctrip,
the largest online travel agency in terms of gross merchandise
value and best-known travel brand in China; Qunar, a leading online travel agency
in China; Trip.com, an online
travel agency for global consumers; and Skyscanner, a leading
global travel search site. Since its inception in 1999, Ctrip Group
has experienced substantial growth and become one of the largest
travel service providers in the world.
For further information, please contact:
Investor Relations
Ctrip.com International, Ltd.
Tel: (+86) 21 3406 4880 X 12229
Email: iremail@ctrip.com
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SOURCE Ctrip.com International, Ltd.