UTour Travel Acquired Uzai and Offered Loans to It
On December 4th, 2014, UTour Travel announced to acquire 15% of share of Shanghai Uzai Network Technology Co., Ltd. (Uzai) and offered entrusted loans of less than 60 million yuan to it to supplement its daily dash flow.
It’s the third industrial acquisition of UTour under the help of JD Capital.
JD Capital invested in UTour travel in October 2010, holding the share of 6.56% as the second largest shareholder. In 2014, UTour landed capital markets and rewarded its investor heavily with 10 daily limits. After UTour was listed, JD Capital customized a set of complete development strategies combining online and office services both at home and abroad.
In September 2014, UTour and JD Capital set up a joint fund to acquire France Club Med, world’s biggest resort hotel. In the same month, UTour acquired 70% of shares from Zhuyuan International Travel Service. In December, it acquired 15% of shares of Uzai, entering into the online tourism market.
Founded in 2004, Uzai is one of the first tourism enterprises in China, with a very famous tourism brand www.uzai.com, mature e-commerce operation system and rich online tourism operation experience.
Online tourism is very popular among consumers with the development of internet and mobile internet. This cooperation will benefit UTour a lot. Both parties will strength the application of online and offline resources and achieve O2O resource integration. What’s more, they will strengthen cooperation in developing tourism resources, expanding markets, sharing customer resources and innovating mobile applications researching system and bid data.
UTour’s market value has increased from 1.34 billion yuan to 8.55 billion yuan, achieving 24-fold book returns.
- Jiuding Group
- JT Asset Management
- JX AMC