17.02.2015 07:16:35
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Expedia Increases Ownership In AirAsia-Expedia JV
(RTTNews) - Expedia Inc. (EXPE) announced Tuesday that it reached an agreement with AirAsia Berhad to purchase an additional 25% equity interest of AAE Travel Pte. Ltd., the joint venture formed between the two companies in 2011, for cash consideration of $86.3 million. This investment will increase Expedia's total ownership in the joint venture to 75%.
The transaction is expected to close in the first half of 2015, at which point Expedia expects to include the AirAsia-Expedia Joint Venture financial results in Expedia's consolidated financial statements.
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