Yatra Online terminates merger agreement with US-based Ebix

Yatra Online terminating a pending merger agreement with US-based software firm Ebix Inc and had filed a litigation seeking "substantial" damages for Ebix's alleged breach of deal terms.

Ebix had agreed to buy Yatra last year for an enterprise value of $337.8 million, aiming to beef up its portfolio of Indian travel companies, including Mumbai-based Mercury Travels and Delhi-based Leisure Corp.

Yatra Online Inc said that it was seeking damages against Ebix for breaching terms of their merger agreement, including clauses on representations and covenants.

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