Standard Chartered Private Equity to acquire stake in TBO Group

Standard Chartered Bank's equity arm Standard Chartered Private Equity (SCPE) has agreed to acquire Naspers' stake in Indian travel major Travel Boutique Online (TBO). Founded by Ankush Nijhawan and Gaurav Bhatnagar in 2006, TBO provides travel services to 45,000 travel agents and tour operators, with operations in over 90 countries, and has a turnover of over $1 billion.