Indian travel services firm Yatra scraps merger deal with US-based Ebix

Source: Anete Lūsiņa/Unsplash

India’s Yatra Online Inc said on Friday it was terminating a pending merger agreement with U.S. software firm Ebix Inc, and had filed a litigation seeking “substantial” damages for Ebix’s alleged breach of deal terms.

Ebix had agreed to buy Yatra in 2019 for an enterprise value of $337.8 million, aiming to beef up its portfolio of Indian travel companies, including Mumbai-based Mercury Travels and Delhi-based Leisure Corp.

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