China’s largest online travel company has invested in a fund that will add to the flood of corporate cash heading into foreign markets in search of tourism assets.
New York-listed, Shanghai-based Ctrip.com International announced on Monday that it had formed a partnership with US private equity house General Atlantic that will target onshore and global travel businesses.
The $400m fund, called Ocean Link and involving by two former Carlyle Group dealmakers, will join a fiercely competitive market where some of China’s most acquisitive groups have vied for high-profile tourism assets.
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