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Yatra Online, Inc. Announces Independent Committee to Evaluate Potential Corporate Restructuring
GURUGRAM, India & NEW YORK--(BUSINESS WIRE)-- Yatra Online, Inc. (“Company” or “Yatra”) (NASDAQ: YTRA) announced that its board of directors (the “board”) is
About this update from Yatra Online, Inc.
[{"type":"text","content":" GURUGRAM, India & NEW YORK--(BUSINESS WIRE)--\nYatra Online, Inc. (“Company” or “Yatra”) (NASDAQ: YTRA) announced that its board of directors (the “board”) is looking to explore certain strategic options regarding simplifying the Company’s multi-jurisdictional corporate structure and in that direction has established an independent committee of the board (the “committee”).\n\n\nThe committee is expected to engage with industry experts, legal counsel, regulatory bodies, and other stakeholders to gather insights, perspectives, and requirements for approval on any proposed corporate structural changes.\n\n\nAfter such review, the committee will develop a set of strategic recommendations for the board that outline potential pathways, the anticipated benefits, and any associated risks or challenges. The committee will aim for a plan that can reduce administrative overhead, rationalize costs, and facilitate organic and inorganic growth for the Company.\n\n\nThere is no assurance that the Company will necessarily take any near-term course of action, or will pursue any recommended plan.\n\n\nAbout Yatra Online, Inc.\n\n\nYatra Online, Inc. is the ultimate parent company of Yatra Online Limited, India’s leading corporate travel services provider with over 800 large corporate customers and one of India’s leading online travel companies. The company provides information, pricing, availability and booking facility for domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, in city activities, inter-city and point-to-point cabs, homestays and cruises. With approximately 108K hotels and homestays contracted in approximately 1,500 cities across India, as well as approximately 2 million hotels around the world, the company is India’s largest platform for domestic hotels.\n\n\nSafe Harbor Statement\n\n\nThis press release contains certain forward-looking statements as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are based on management’s current expectations, assumptions, estimates and projections about the Company and its industry. These forward-looking statements are subject to various risks and uncertainties. Generally, these forward-looking statements can be identified by the use of f...