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StanChart PE unit to acquire Naspers’ stake in TBO Group

Standard Chartered Bank’s private equity arm Standard Chartered Private Equity is acquiring the stake of Naspers in TBO Group, which is a leading online B2B travel distribution company in India. Naspers first invested in TBO in 2012. TBO, or Travel Boutique Online, was founded in 2006 and has since expanded its operations to more than 90 countries. It uses its proprietary online technology platform to distribute airline and hotel inventory to its customer travel agents. Udai Dhawan, MD, Standard Chartered Private Equity, said the firm is excited to partner with TBO Group, which has built a profitable and scalable business with a strong market position. Ankush Nijhawan, co-founder of TBO Group, said through leveraging StanChart’s extensive network and business planning expertise, the company would be able to strengthen its position as a leading B2B travel distribution player in the global landscape.

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