Ctrip, a Chinese online travel site, has announced that they have received yet another investment from Priceline, an American online travel firm. Both Priceline and an unspecified long-term equity firm are in agreement to invest $500 million in the Chinese company through convertible bonds, with their investments totaling up to $1 billion overall.
Priceline’s interest in Ctrip has been apparent for some time now; the two companies first linked up with one another in 2012. A series of investments were made back in 2014. The latest move once again sees Priceline buying into Ctrip through its US-listed stock shares. There is an estimate that Priceline could eventually own as much as 15 % of Ctrip when it’s all said and done.
