B2B travel firm buys back stake amid China-India tensions
06/21/2020|8:35:51 AM|Travel Biz Monitor

Amidst ongoing tensions between China and India, Travstarz Global Group, an India-based B2B travel company, has initiated talks with Rezb2b, a Group subsidiary, which holds a minority stake in Travstarz to buy back 100% of its shares, according to a report by local news media Travel Biz Monitor. 

Pankaj Nagpal, Managing Director of Travstarz Global Group said that "Travstarz shall soon be a 100% Indian company once again, and all shares will be held by us, and my son, Raghuv Nagpal, too shall be joining the Board post the transaction which will be finalized soon."

Rezb2b is a B2B travel platform of Toursforfun, which received reportedly near RMB 100 million (USD 14 million) in 2013 through an investment by Group (known as Ctrip at the time).

Toursforfun acquired a stake in Travstarz in 2018. The details of the deal were not disclosed by both parties.