Yatra.com terminates $337 Million merger pact with Ebix
Online travel company Yatra Online said it is terminating pending merger agreement with the US-based software firm Ebix Inc and has filed litigation seeking substantial damages from Ebix over breaches of the agreement.
Ebix Inc had signed an agreement to acquire Yatra Online Inc, the parent company of online travel firm Yatra.com, for an enterprise value of USD 337.8 million (over Rs 2,300 crore) in 2019.
The company, "has provided notice of termination of its pending merger agreement with Ebix Inc and filed litigation in the Court of Chancery of the State of Delaware over Ebix's breaches of the merger agreement," Yatra Online Inc said in a statement.
Yatra Online Inc seeks to hold Ebix accountable for breaches of its representations, warranties and covenants in the merger agreem...