Airbnb-backed OYO moves into Europe, buys Leisure Group from Axel Springer for $415M

OYO, the fast-growing budget hotel startup out of India that’s backed by Airbnb, SoftBank, Grab and Didi, has made an acquisition to expand its footprint into Europe, specifically around self-catering home rentals. The company has picked up @Leisure Group from Axel Springer for about $415 million (€369.5 million). Axel Springer had a 51 percent share of […]


1 May, 2019TECHCRUNCH.COM

Airbnb-backed OYO moves into Europe, buys Leisure Group from Axel Springer for $415M | Beamstart

OYO, the fast-growing budget hotel startup out of India that’s backed by Airbnb, SoftBank, Grab and Didi, has made an acquisition to expand its footprint into Europe, specifically around self-catering home rentals. The company has picked up @Leisure Group from Axel Springer for about $415 million (€369.5 million).

Axel Springer had a 51 percent share of the company and said it would be receiving €180 million in the deal, including the repayment of a shareholder loan of around €60 million, and a spokesperson for OYO confirmed to TechCrunch that the full price was €369.5 million....

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