M&A

M&A

Oyo unit to acquire Australian rental platform MadeComfy for $11.5 M

Economic Times  

Oyo owned vacation home management company Belvilla by Oyo has acquired Australian short-term rental platform MadeComfy in a cash-and-stock deal.MadeComfy manages over 1,200 assets across Australia. It also has a presence in New Zealand, with properties in Auckland, Wellington and Hamilton.As part of the deal, the acquirer will issue shares worth USD 1.9 million (INR 16 crore) upfront at USD 0.67 (INR 57.09) a piece and deferred stocks post two years worth USD 9.6 million (INR 81 crore). The transaction also involves a cash payout.