Tempus Global acquires 65% of Cncn’s shares for 195 million RMB
Tempus Global's wholly-owned subsidiary Shanghai Tempus is investing 36 million RMB, to buy 12% of shares in Cncn Information Co Ltd held by Xiamen Longling Capital Partners.
(TravelDaily) Shenzhen Tempus Global Business Service Holdings Ltd. (Chinese: Feiren.com) is advancing further into the online travel market. Tempus Global is a public-listed company focusing on air ticketing and travel management service in China. Its wholly-owned subsidiary Shanghai Tempus is investing 36 million RMB, to buy 12% of shares in Cncn Information Co Ltd. Cncn is held by Xiamen Longling Capital Partners.
Meanwhile Tempus Global is allocating an additional 100 million RMB to start the “Tempus Wutong Online Travel Investment Fund”. In the future this fund will invest a total of 159 million RMB, to purchase an additional 53% of Cncn’s shares
Tempus Global will eventually acquire a total of 65% of Cncn shares, for 195 million RMB. Cncn.com is an online platform that specializes in assisting travel companies to transition to online business. They also assist in online technology development by providing tour operators with general travel technology solutions. Cncn.com has two main platforms, their B2C platform is called “cncn.com” and their B2B platform is called “cncn.net”.
With this transaction, Tempus Global will be able to combine their air ticketing and financial services with cncn’s online travel services. They will also be able to build a comprehensive travel system that connects suppliers, travelers, diversified products, industry transactional platforms, and financial services.(Transaltion by David)