Brief: Makemytrip Ltd Says On Feb 15, Co Entered Into Settlement Agreement With Former Shareholders Of Hotel Travel Group

MakeMyTrip

16/02/2022 14:41

Feb 16 (Reuters) - MakeMyTrip Ltd  MMYT.O :
    * MAKEMYTRIP LTD SAYS ON FEB 15, 2022, CO ENTERED INTO
SETTLEMENT
AGREEMENT WITH FORMER SHAREHOLDERS OF HOTEL TRAVEL GROUP, WHICH
WAS ACQUIRED IN 2012
    * MAKEMYTRIP LTD SAYS CO AND FORMER SHAREHOLDERS OF HOTEL
TRAVEL
GROUP IN ARBITRATION, RESULTED IN AWARDS AMOUNTING TO $39.2
MILLION AGAINST THE COMPANY
    * MAKEMYTRIP - PARTIES AGREED TO FULL, FINAL SETTLEMENT OF
ALL
OUTSTANDING DISPUTES INCLUDING WITHDRAWAL OF ALL PROCEEDINGS
UNDER WHICH CO WILL PAY $35.5 MILLION

Further company coverage:  MMYT.O 

 ((Reuters.Briefs@thomsonreuters.com;))