Gurgaon-based online travel agency Yatra Online has acquired online hotel distribution network Travelguru from Travelocity..J. Sagar Associates advised Travelocity. The JSA team was led by Corporate Partners Abeezar Faizullabhoy and Shiraj Salelkar along with Senior Associate Devang Mehta and Associate Fatema Dalal. Partner Sunil Jain along with Associate Puneet Bhardwaj assited on Direct Tax issues while Partner Ashok Dhingra along with Senior Associate Smita Singh advised on Indirect Tax issues..AZB & Partners advised Yatra with a team led by Delhi Partner Gautam Saha along with Senior Associate Heena Singh and Associate Swati Chauhan..Travelocity is a US based company and was indirectly holding 100% share capital of Travelguru through its subsidiaries in Singapore and Cayman Island..According to VCCircle, Yatra offers both hotel and airticket booking services and a deal with Travelguru would boost its hotel and holiday booking practice to take on its key rivals Nasdaq-listed MakeMyTrip and Cleartrip..ET reports, Yatra’s investors include Promod Haque’s Silicon Valley-based Norwest Venture Partners, Reliance Anil Dhirubhai Ambani Group’s Reliance Capital, the Raghav Bahl-promoted Network 18 and Intel Capital, the strategic investment arm of Intel..This is Yatra’s fourth acquisition in the past 18 months after deals involving ticket consolidator Travel Services International, hotel aggregation company MagicRooms and event and entertainment promotion portal Buzzintown.
Gurgaon-based online travel agency Yatra Online has acquired online hotel distribution network Travelguru from Travelocity..J. Sagar Associates advised Travelocity. The JSA team was led by Corporate Partners Abeezar Faizullabhoy and Shiraj Salelkar along with Senior Associate Devang Mehta and Associate Fatema Dalal. Partner Sunil Jain along with Associate Puneet Bhardwaj assited on Direct Tax issues while Partner Ashok Dhingra along with Senior Associate Smita Singh advised on Indirect Tax issues..AZB & Partners advised Yatra with a team led by Delhi Partner Gautam Saha along with Senior Associate Heena Singh and Associate Swati Chauhan..Travelocity is a US based company and was indirectly holding 100% share capital of Travelguru through its subsidiaries in Singapore and Cayman Island..According to VCCircle, Yatra offers both hotel and airticket booking services and a deal with Travelguru would boost its hotel and holiday booking practice to take on its key rivals Nasdaq-listed MakeMyTrip and Cleartrip..ET reports, Yatra’s investors include Promod Haque’s Silicon Valley-based Norwest Venture Partners, Reliance Anil Dhirubhai Ambani Group’s Reliance Capital, the Raghav Bahl-promoted Network 18 and Intel Capital, the strategic investment arm of Intel..This is Yatra’s fourth acquisition in the past 18 months after deals involving ticket consolidator Travel Services International, hotel aggregation company MagicRooms and event and entertainment promotion portal Buzzintown.
