Jet Tech Innovation Ventures Pte. Ltd. entered into an agreement to acquire 100% stake in Travel Book Philippines, Inc., 100% stake in PT. Go Online Destinations and 93.54% stake in MyTour Vietnam Company Limited from Recruit Holdings Co.,Ltd. and Recruit Global Incubation Partners Co.,Ltd. for $66.8 million.
January 04, 2018
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Jet Tech Innovation Ventures Pte. Ltd. entered into an agreement to acquire 100% stake in Travel Book Philippines, Inc., 100% stake in PT. Go Online Destinations and 93.54% stake in MyTour Vietnam Company Limited from Recruit Holdings Co.,Ltd. (TSE:6098) and Recruit Global Incubation Partners Co.,Ltd. for $66.8 million on January 5, 2018. Recruit Holdings Co.,Ltd. will sell 34.77% stake in Travel Book Philippines, Inc., and 95.7% stake in PT. Go Online Destinations. Recruit Global Incubation Partners Co.Ltd. will sell 65.23% stake in Travel Book Philippines, Inc., 4.3% stake in PT. Go Online Destinations and 93.54% stake in MyTour Vietnam Company Limited. As part of the transaction, Jet Tech Innovation Ventures Pte. Ltd. will acquire 580.95 million shares in Travel Book Philippines, Inc., 0.52 million shares in PT. Go Online Destinations and 252.48 million shares in MyTour Vietnam Company Limited. The transaction will create a minor impact on the consolidated financial results of Recruit Holdings Co.,Ltd. for the year ending March 31, 2018. The transaction is expected to close on March 29, 2018. Rajiv Gupta, Sharon Lau and Nozomi Oda of Latham & Watkins LLP acted as legal advisors for Jet Tech Innovation Ventures Pte. Ltd.
Recruit Holdings Co., Ltd. specializes in human resources and support services. Net sales break down by activity as follows:
- staffing services (52.2%): temporary recruitment of staff for specialized, administrative, technical and other positions, etc;
- promotional services (29.4%): promotion of operations related to the events organization (especially weddings), housing search, trip search, etc. ;
- online recruitment services (18.4%).
Net sales are distributed geographically as follows: Japan (54.9%), the United States (21.4%) and other (23.7%).
Jet Tech Innovation Ventures Pte. Ltd. entered into an agreement to acquire 100% stake in Travel Book Philippines, Inc., 100% stake in PT. Go Online Destinations and 93.54% stake in MyTour Vietnam Company Limited from Recruit Holdings Co.,Ltd. and Recruit Global Incubation Partners Co.,Ltd. for $66.8 million.
RECRUIT HOLDINGS CO., LTD 
