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Mergers & Acquisitions | 27 November 2012

MakeMyTrip Makes Second Acquisition This Month: Acquires Thai Group ITC

by Vivek Singh
MakeMyTrip Makes Second Acquisition This Month: Acquires Thai Group ITC
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U.S listed travel portal MakeMyTrip has acquired majority stake in ITC Group, enhancing its South East Asian portfolio of offerings.

Amount paid included $2.2 Mn to the existing shareholders and another $1 Mn for subscription of new shares.

MakeMyTrip will also acquire the remaining shares of the ITC Group from the existing shareholders in cash over four tranched payments up till December 2016, at a price linked to the company’s profitability.

Patni Brothers - Amit And Arihant Acquire Stake In Grameen Capital

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Amit Patni and Arihant Patni have acquired around 43% stake in social investment bank, Grameen Capital India.

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Druva raises $51m from Sequoia, EDBI and others

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Sunnyvale, California-based Druva Inc., a cloud-first data protection solution provider, announced receiving $51 million in funding. This round of funding was led by existing investor Sequoia India, along with participation of new investors such as Blue Cloud Ventures, Hercules Capital, and Singapore-based EDBI. Existing investors like Japan’s NTT Finance (financial arm of Japanese telecommunications company Nippon Telegraph and Telephone Corporation), Nexus Venture Partners and Tenaya Capital also contributed to this round.

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