Ctrip over $200 million investment in the same way travel into its second largest shareholder
April 28th news, Ctrip today announced strategic investment with the way network Polytron Technologies Inc. Through this investment, Ctrip will become the second largest shareholder after the same way management team. The transaction is completed in cash, involving more than $200 million.
Ctrip, through its Shanghai Ctrip International Travel Co., Ltd. with the same way network Polytron Technologies Inc reached an investment agreement. With the way network Polytron Technologies Inc, which operates a LY.com based website, the industry has a leading position in the field of ticket sales in china.
Liang Jianzhang, chairman and chief executive officer of
, said: "we are very pleased to have a strategic partnership with the company. We are full of confidence in the future of China’s tourism market. The same way is the leader in the field of ticket sales in China, we will support their independent development. We are very excited to work with the same team, will work together to bring greater value for travelers, while promoting the healthy growth of the tourism industry."
with the way network CEO Wu Zhixiang said: we welcome Ctrip become strategic investors. Ctrip is China’s online and mobile travel market leader. The investment can strengthen the strategic cooperation between the two sides, and can make our customers and partners long-term benefit."
the same way network CEO Wu Zhixiang in the company’s internal e-mail said: "a strategic partnership with competing with Ctrip, Ctrip will now pay business attraction tickets all access the same way, and the same way to invest $220 million, with independent IPO support. After the completion of the current round of investment, entrepreneurial team remains the largest shareholder status, the company will continue to develop independently, the first goal of the rapid advance of leisure travel, and restart the IPO within two years. This cooperation is the company’s ten year history of the entrepreneurial process of strategic significance, the results of this cooperation is not easy. We see the industry leader’s vision, wisdom, openness, we have seen the same process of the entrepreneurial team’s insistence, efforts, hard work." (An Dong)