Priceline Group Inc. Confirms Investment In Ctrip.com

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Priceline Group Inc.
PCLN
acquired a 5.8 percent stake in Ctrip.com International Ltd.
CTRP
. Outlines of the deal were jointly announced by the companies Aug. 6. Priceline said in a regulatory filing Monday said it had no plans to acquire Ctrip and the stake, in the form of a convertible note and American Depository shares, were acquired in connection with "a long-term commercial relationship" established in 2012. http://www.sec.gov/Archives/edgar/data/1075531/000110465914068979/a14-21494_1sc13d.htm The deal includes an agreement negotiated last month and amended Sept. 15 in which Priceline is entitled to acquire up to a 10 percent stake in Ctrip over the next 12 months. The agreement also bars Priceline from making an acquisition proposal for Ctrip without Ctrip's permission. Shanghai-based Ctrip.com provides travel-management services in China; Priceline, Norwalk, Conn., offers on-line travel services.
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