Terrapin 3 Acquisition Corporation acquires Yatra Online for $218 mn

Posted on:18 Jul 2016 09:15:46

Terrapin 3 Acquisition Corporation acquires Yatra Online for $218 mn
18 July 2016 Current Affairs GK: Yatra Online, Inc. and Terrapin 3 Acquisition Corporation on 14 July 2016 entered into a definitive merger agreement. The transaction values Yatra at an enterprise value of 218 million dollars (1458 crore rupees).

Yatra in its statement said that it intends to be listed on the NASDAQ Stock Market under the symbol"YTRA" following completion of the transaction.

The combined company will continue to be led by Yatra's experienced management team under the leadership of chief executive and co-founder Dhruv Shringi.

Yatra Online : Founded in 2006, Yatra is one of the fastest growing consumer travel platforms and online travel agents in India with more than 4 million customers.

Yatra has emerged as the most trusted eCommerce travel brand in India and has won three awards at the Indian government's Ministry of Tourism National Tourism Awards and they are

Outstanding performance as a Domestic Tour Operator (Rest of India),Outstanding performance as a Domestic Tour Operator in Jammu and Kashmir,Outstanding performance as an Inbound Tour Operator-Category C

Terrapin 3 Acquisition Corporation : TRTL is a special purpose acquisition company formed for the purpose of effecting a merger, acquisition, or similar business combination. TRTL was founded by Nathan Leight and was co-sponsored by affiliates of Terrapin Partners, LLC and affiliates of Macquarie Group Limited.

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