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Mergers & Acquisitions | 23 April 2012

Ibibo.com's Parent Co - MIH Group Acquires Tek Travels

by Charmi Gutka
MIH Group has acquired 51% stake in Gurgoan based @Tek_Travels Private Limited, which owns B2B travel portal Travel Boutique Online.

With this acquisition, MIH Group will get an access to domestic online business travel space, while Tek Travel will be able to expand in international markets.

Founded in 2006 by Ankush Nijhawan and Gaurav Bhatnagar, Travel Boutique Online offers a gamut of travel services such as airline, train and hotel reservation and holiday package deals. It also provides charter and choppers and helps with car rental, bus bookings and travel insurance.

MIH is a wholly owned subsidiary of media group Naspers. The group's principal businesses are in internet platforms, pay-television and the provision of related technologies. The groups operations are located mainly in South Africa and the rest of Sub-Saharan Africa, China, Latin America, Central and Eastern Europe, Russia and India.

Kanoria Chemicals Acquires Switzerland Based APAG Holding AG

Kanoria Chemicals & Industries Ltd is acquiring 90% stake in APAG Holding AG, the Switzerland based holding company of its wholly owned subsidiary APAG Elektronik AG, Switzerland for CHF 6.39Mn. The transaction is expected to be closed in May’2012 and is subject to customary closing conditions. ...


German Partner Mulheim Pipe Exits Welspun Enterprises

After selling its entire stake in Welspun Corp, German partner Mulheim Pipe Coatings (MPC) GmbH has sold its entire holding of 3.14% in the demerged unit of Welspun Corp, Welspun Enterprises, for a total consideration of INR 50 Mn. The stake was bought by Welspun Infra Developers Limited at a unit price of INR 121, by way of a private arrangement.

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