CHENGDU, Nov. 24 (NBD) -- China's leading online travel service provider Ctrip.com declared on Wednesday that it has struck an acquisition agreement with major shareholders of Edinburgh-based Skyscanner Holdings Limited.

The value of Skyscanner is estimated to be 1.4 billion pounds (approximately 12 billion Yuan). 

According to the agreement, Ctrip will acquire all shares held by major shareholders and provide tender offers to remaining shareholders in line with relevant British law. The consideration will be paid mainly in cash and partially by Ctrip ordinary shares and loan notes.

The transaction is expected to close by end of the fourth quarter. Current Skyscanner manage team will remain in place to run the travel search website independently.

Liang Jianzhang, the joint founder and executive Chairman of the Board of Ctrip, said, “Skyscanner is much welcomed to join Ctrip group, which shares the same enthusiasm and focus with Skyscanner to provide better service for global traveler". He assured that Skyscanner’s participation would enhance Ctrip’s influence globally in air ticket booking services, while Ctrip would assist Skyscanner with its experience and technology.

Skyscanner enables users to search air tickets, hotels and car rental services from several hundred suppliers. Skyscanner has 60 million active monthly users from 190 countries and receives 2 billion air ticket search requests every year. Thirty languages are also available. Enditem