Yatra to review take over proposal of Ebix

NEW DELHI, Mar 12: Yatra Online Inc, the parent company of Gurugram-based online travel firm Yatra.com, said Tuesday it has received a proposal from Ebix Inc to acquire all of its outstanding shares and will review the offer.

US-based software firm Ebix Inc on Monday announced that it had offered to acquire Yatra Online Inc for USD 336 million (over Rs 2,345 crore).

“Consistent with its fiduciary duties, and in consultation with its independent legal and financial advisors, the company’s Board of Directors will review and consider the proposal to determine the course of action that it believes is in the best interest of the company and all of its shareholders,” Yatra Online Inc said in a statement.

Company shareholders do not need to take any action at this time, it added.

“Citi Group Global Markets Inc is acting as financial advisor to the Company and Goodwin Procter LLP is acting as legal counsel,” the statement said.

Ebix Inc has sent a letter to the Board of Yatra Online, Inc outlining offer to acquire 100 per cent of the outstanding stock of Yatra Online for USD 7 per share on a debt-free basis, the US based software firm had said in a statement. (PTI)