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Expedia Announces eLong TransactionBELLEVUE, Wash., May 22, 2015 /PRNewswire/ -- Expedia, Inc. (NASDAQ: EXPE) today announced that Expedia has sold its 62.4% majority stake in eLong, Inc. (NASDAQ: LONG) to several purchasers based in China, including Ctrip.com International, Ltd. (NASDAQ: CTRP), Keystone Lodging Holdings Limited, Plateno Group Limited and Luxuriant Holdings Limited for a total purchase price of approximately $671 million. In addition, Expedia and Ctrip have agreed to cooperate with each other to allow their respective customers to benefit from certain travel product offerings for specified geographic markets. The transaction closed on May 22, 2015. About Expedia, Inc. Expedia, Inc. (NASDAQ: EXPE) is one of the world's largest travel companies, with an extensive brand portfolio that includes leading online travel brands, such as:
Trademarks and logos are the property of their respective owners. © 2015 Expedia, Inc. All rights reserved. CST: 2029030-50 Forward-looking Statements. This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the expected benefits of the Expedia/Ctrip agreements. These statements are based on the expectations of Expedia and Ctrip management as of the date hereof and assumptions which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results and the timing and outcome of events may differ materially from those expressed or implied in the forward-looking statements for a variety of reasons, including, among others, the ability of the parties to successfully implement the agreements, or meet forecasts and other expectations, as well as other risks detailed in Expedia, Inc. and Ctrip.com International, Ltd.'s public filings with the Securities and Exchange Commission, including Expedia, Inc.'s most recent Annual Report on Form 10-K and Ctrip.com International, Ltd's most recent Annual report on Form 20-F. Except as required by law, Expedia and Ctrip undertake no obligation to update any forward-looking or other statements in this release, whether as a result of new information, future events or otherwise. Logo - http://photos.prnewswire.com/prnh/20130822/SF68326LOGO-a
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/expedia-announces-elong-transaction-300087777.html SOURCE Expedia, Inc. |