Yatra Online: Falls after terminating merger deal with Ebix

Yatra Online

05/06/2020 22:36

** U.S.-listed shares of Indian travel services firm
 YTRA.O  fall 8.7% to $1.37 after the bell
    ** Company says http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20200605:nPn10qDGra
 it is terminating a pending merger agreement with U.S. software
firm Ebix Inc  EBIX.O 
    ** Adds it filed a litigation seeking "substantial" damages
for Ebix's alleged breach of deal terms, including clauses on
representations and covenants
    ** Ebix had agreed https://www.reuters.com/article/us-yatra-online-m-a-ebix/software-firm-ebix-offers-to-buy-indias-ticketing-firm-yatra-idUSKBN1QS1PU
 to buy Yatra in 2019 for an enterprise value of $337.8 million
    ** Yatra down ~52% YTD, while Ebix has fallen about ~15%

 (Reporting by Ayanti Bera in Bengaluru)
 ((Ayanti.Bera@thomsonreuters.com; 646 223 8780 - 3401;))