8 August, 2014

Skadden has advised Ctrip.com International, A Chinese online travel services company, in expanding its commercial partnership agreement with The Priceline Group,a global online travel service provider. The partnership with Ctrip will allow both companies to access each other’s portfolios.

Concurrently with the expansion of the partnership, The Priceline Group invested USD 500m in Ctrip through a convertible bond. In addition, Ctrip has granted The Priceline Group permission to acquire Ctrip shares in the open market over the next twelve months, so that, combined with shares convertible under the bond, The Priceline Group may hold up to 10% of Ctrip’s outstanding shares.

The Skadden team included partners Julie Gao, Jonathan Stone, Stuart D Levi and Michael Gisser.

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