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BW Businessworld

MakeMyTrip Buys Stake In Thai's ITC Group

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Travel services firm MakeMyTrip announces acquisition of majority interest in ITC Group. Thailand-based ITC Group comprises International Tour Center Co. Ltd., ITC Bangkok co ltd. and ITC South Co. Ltd.
The firm has paid $2.2 million to existing shareholders for sale of shares in ITC group and paid $1 million for new shares in the group. MakeMyTrip is also set to buy remaining shares of ITC Group from existing shareholders in cash over earn-out period ending December 2016