Easy Trip Planners enters into definitive agreements for investments in Pflege, Jeewani Hospitality, Planet Education
- Easy Trip Planners had announced three strategic acquisitions - 49% stake in Pflege, a 50% stake in Jeewani Hospitality, and a 49% stake in Australia’s Planet Education.
Easy Trip Planners, the parent company of travel aggregator EaseMyTrip, on December 6 entered into the definitive agreements in connection with the proposed acquisitions announced earlier.
The three strategic acquisitions announced by Easy Trip Planners, were - 49% stake in Dubai-based Pflege Home Health Care Center for ₹30 crore to enter the healthcare and medical tourism sector; a 50% stake in Uttar Pradesh’s Jeewani Hospitality for ₹100 crore to expand its hotel operations, and a 49% stake in Australia’s Planet Education for ₹39.2 crore to venture into the international education and student services market.
Easy Trip Planners share price closed in the green, up 0.72% at ₹16.76, on December 6, on BSE. The company boasts a market capiatlisation of ₹5,939.88 crore.
Here's breakdown of all acquisitions
EaseMyTrip has acquired a 49 per cent stake in Dubai-based Pflege Home
EaseMyTrip has acquired a 49% stake in Dubai-based Pflege Home Health Care Center L.L.C for ₹30 crore. Pflege specializes in medical tourism and home healthcare services, catering to patients across India, Southeast Asia, and the Middle East. This strategic move marks EaseMyTrip’s entry into the growing healthcare sector, aiming to diversify its portfolio.
₹100 Crore Acquisition of Jeewani Hospitality to Boost Hotel Business
The company will take a 50% stake in Uttar Pradesh-based Jeewani Hospitality Private Limited for ₹100 crore. Jeewani focuses on the construction and operation of hotels. The acquisition aligns with EaseMyTrip’s strategy to strengthen its hospitality vertical and create synergies with its core travel business.
The company proposes to pay by way of share swap, i.e., issuance of the company’s own new fully paid-up equity shares to Jeewani Hospitality on preferential basis.
Education Sector Expansion with ₹39.2 Crore Investment in Planet Education
EaseMyTrip has also acquired a 49% stake in Australia-based Planet Education for ₹39.2 crore. Planet Education is a leader in international student recruitment, placement, and test preparation services. This acquisition enables EaseMyTrip to tap into the global education market, complementing its existing travel offerings.
Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Business NewsCompaniesNewsEasy Trip Planners enters into definitive agreements for investments in Pflege, Jeewani Hospitality, Planet Education
First Published:8 Dec 2024, 11:52 AM IST
- Top Gainers
- Top Losers
- 52 Week High