redBus Acquired Majority Stakes In Peru-based Busportal.pe
PTI: Ibibo Group's redBus.in has recently bought a majority stake in Peru-based bus ticketing platform Busportal for an undisclosed amount, a move that will help the Indian entity foray into the Latin American market.
redBus, which also has operations in Malaysia and Singapore, will now gain entry into large and under-penetrated online bus ticketing markets in the Latin American region like Peru, Colombia and Chile.
No financial details of the deal were disclosed.
In addition to its local market expertise, Busportal.pe will leverage the redBus technology, product and brand name to launch and grow these markets, redBus said in a statement.
The co-founders of Busportal -- Hassan Bourgi and Carol Riboud -- will continue to drive the operations in Peru and further expand into Colo...