flipkart: Flipkart to sell Cleartrip’s business in Middle East

NEW DELHI: Walmart’s Flipkart is set to sell Cleartrip’s Middle East business to Tiger Global-backed Wego, an online travel marketplace that operates in the Middle East and North Africa.
Apart from a technology co-operation agreement between Wego and Flipkart, the deal includes the sale of Flyin, a Saudi Arabia-based online travel aggregator that Cleartrip bought in 2018. This means India is the only market where Cleartrip will only operate in.
The boards of directors of Wego and Flipkart have approved the transaction, which is expected to close in the second half of 2022, subject to customary closing conditions and regulatory approvals.
Flipkart acquired Cleartrip in April last year in a distress sale. The e-tailer, which is fighting a close battle with US e-tail giant Amazon for one-upmanship in India’s booming e-commerce market.

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