Ctrip announces agreement to acquire Skyscanner

Ctrip.com International Ltd and Skycanner signed (24-Nov-2016) a definitive agreement with the majority shareholders of Skyscanner Holdings Limited, under which Ctrip will acquire all of such shareholders' shares in Skyscanner and will offer to acquire shares from the remaining shareholders of Skyscanner. The terms of the acquisition value Skyscanner at approximately GBP1.4 billion. The boards of directors of Ctrip and Skyscanner have approved the transaction, which is subject to customary closing conditions, and is expected to close by the end of 2016. Skyscanner's current management team will continue to manage Skyscanner's operations independently as part of the Ctrip group. [more - original PR]