Qunar Reports Board Changes On Sale Of Baidu's Ownership Interest

(RTTNews) - Qunar Cayman Islands Limited (QUNR), China's leading mobile and online travel platform, announced the sale by Baidu, Inc. (BIDU), the largest shareholder of the company, of 178,702,519 Class A ordinary shares and 11,450,000 Class B ordinary shares of its ownership interest in the company to Ctrip.com International, Ltd. (CTRP). Ctrip will now own 190,152,519 Class B ordinary shares of Qunar.

Qunar also announced the changes to its Board composition following the sale of Baidu's ownership interest. James Jianzhang Liang, Jane Jie Sun, Maria Maohua Sun and Xing Xiong have been appointed to the Board of Qunar. Helen He, Liang Zeng, Yuming He and Fang Wei have stepped down from the Board. The changes became effective on October 26, 2015.