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Announced

Yatra Online terminates $239m merger with Ebix.

Financials

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Transaction Value£192m
Consideration TypeOrdinary Shares
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium32%
One Off Charge-

Tags

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Acquisition

travel agency

Public

India

Travel and Tourism

Friendly

Single Bidder

Failed

Merger

Majority

Synopsis

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Yatra Online, an Indian online travel agency and a travel search engine, terminated its merger agreement with Ebix, a provider of on-demand software and e-commerce services, and filed litigation in the Court of Chancery of the State of Delaware over Ebix's breaches of the agreement. The complaint seeks to hold Ebix accountable for breaches of its representations, warranties and covenants in the merger agreement and an ancillary extension agreement, and seeks substantial damages.

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