A Private Equity Fund to Acquire Naspers Stake in Travel Boutique Online
Naspers, a South African media and tech conglomerate acquired 51% stake in Travel Boutique Online (TBO) in 2012, which is a B2B travel distribution firm, and Standard Chartered Private Equity (SCPE) has agreed to acquire Naspers’ full stake in TBO. This deal will mark the firm’s second exit from India this year.
Standard Chartered Private Equity is the private equity (PE) subsidiary of Standard Chartered Bank which did not reveal the terms of the deal with the South African company. However, Naspers who had invested about Rs 110 crore in the company, earned $42-45 million (Rs 285-306 crore) from the sale of its stake.
“Naspers first invested in TBO Group six years ago and it’s rewarding to see how the business has grown and advanced in that time,” said Oliver Rippel, CEO B2C e-commer...