26 May, 2015

Ctrip.com International, Ltd., a travel service provider in China, today announced its investment in eLong, Inc. through acquiring eLong shares from certain selling shareholders, including Expedia, Inc., together with several other investors. Ctrip has acquired a 37.6% equity stake in eLong for a total of approximately USD 400m in cash. Expedia has sold all of its equity stake in eLong to Ctrip and other purchasers for a total purchase price of approximately USD 671m. 

In addition, Ctrip and Expedia have agreed to cooperate with each other to allow their respective customers to benefit from certain travel product offerings for specified geographic markets.

The transaction closed on May 22, 2015. 

The Skadden team was led by partners Julie Gao, Haiping Li and Michael Gisser.

Conventus Law