Yatra intends to increase its presence in the space of adventure tourism
Yatra Online Limited had a joint venture called Adventure and Nature Network Private Limited (ANN) as a Joint Venture Company operating in the field of adventure tourism.
The company has acquired the 49% stake/securities held by the other joint venture partner in ANN and vide the Share Purchase Agreement (SPA) executed on June 19, 2024.
Consequent to completion of the transaction on the closing date as mentioned in the SPA, Yatra’s shareholding in ANN will increase from 50% (pre-acquisition) to 99% (post-acquisition) and ANN will become a subsidiary of Yatra Online effective the closing date as captured in the SPA.
Yatra intends to increase its presence in the space of adventure tourism by focusing on certain areas and expects that acquisition of the stake from the joint venture partner will help focus on its activities by bringing in certain synergies by converting the JV entity into its subsidiary.
