Yatra Cancels Ebix Merger Plans; Alleges Breach Of Deal Terms
Image Credit: shortpedia
Yatra, on Friday, announced that it was cancelling the ongoing agreement with US software firm Ebix Inc. Yatra has filed a plea seeking ‘substantial’ damages for Ebix’s alleged breach of deal terms. In 2019, Ebix had agreed to buy Yara at an enterprise value of $337.8 Mn. The deal, if concluded, would have given Ebix an upper hand in the OTA segment as the company already owns Mumbai-based Mercury Travels and Delhi-based Leisure Corp.