Priceline Group in $500M Ctrip investment

Aug 07, 2014, 2:49 AM EDT
Priceline Group, owner of travel websites including Booking.com and Agoda, has agreed to invest $500m (£297m) in China's biggest online travel company Ctrip.
AFP/Getty Images

Priceline Group, owner of travel websites including Booking.com and Agoda, has agreed to invest $500m (£297m) in China's biggest online travel company Ctrip. Priceline has also gained rights to buy Ctrip shares over the next 12 months and take its holding to up to 10%. The two companies also agreed to expand a deal, struck two years ago, to cross-promote their hotel room inventory. The move comes as demand for travel to and from China has been growing.
Background:
Priceline Group in $500m Ctrip investment [BBC]
Priceline expands China options with Ctrip investment [Bloomberg]

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