Standard Chartered Private Equity to acquire Naspers' stake in TBO Group

This is one of the first exits by the South Africa-based Naspers in India, who has backed firms like Flipkart, Ibibo

Standard Chartered Private Equity (SCPE), Standard Chartered Bank’s private equity arm, has agreed to acquire Naspers’ stake in India-headquartered TBO Group (Travel Boutique Online), a leading online B2B travel distribution company in India, for an undisclosed sum. 

Naspers first invested in TBO Group (also known as TBO) in 2012. This is one of the first exits by the South Africa-based Naspers in India, which has backed several companies like Flipkart, payments firm PayU, travel portal Ibibo.

TBO was founded in 2006 and has expanded its operations to more than 90 countries since then. TBO leverages its proprietary online technology platform