Source - SMW
Investors are advised that terms have been agreed for Naspers Limited's Indian travel business, Ibibo Group, to enter into a transaction with Nasdaq-listed MakeMyTrip Limited, which will combine the two businesses under MMYT  to create one of the largest travel groups in India.

Naspers and Tencent, through their jointly-owned holding company (91% owned by Naspers and 9% owned by Tencent), are selling 100% of ibibo to MMYT in exchange for the issuance of new shares by MMYT. 

Naspers and Tencent will become the single largest shareholder in MakeMyTrip, owning a 40% stake, and will contribute proportionate working capital upon closing.