ibiboGroup has executed a binding agreement to acquire redBus for an undisclosed amount, but some media outlets in India have put the price close to $138 million.
South Africa’s Naspers owns 80% in ibiboGroup and the remaining 20% is owned by China’s Tencent.
redBus and ibiboGroup will continue to be run independently and operate as separate businesses.
Read full story at: http://www.tnooz.com/2013/06/21/news/redbus-selling-a-million-bus-tickets-every-single-month-sold-to-ibibogroup/
