Sale of Travelport Affirms its Recognition as One of the World's Largest Networks of Travel Brands.
PR Newswire Europe, June, 2006
PARSIPPANY, New Jersey, June 30 /PRNewswire/ --
- Affiliate of The Blackstone Group Signs Definitive Agreement to Acquire Cendant's Travelport Unit for Approximately US$4.3 Billion
An announcement today by Cendant Corporation (NYSE: CD) that it has agreed to sell its travel distribution services subsidiary, Travelport, to an affiliate of The Blackstone Group, marked Travelport's prominence as one of the world's largest and most geographically dispersed competitors in the US$6 trillion global travel industry.
"As a private company, Travelport will now have considerably greater financial latitude and firepower to take advantage of burgeoning opportunities in the travel market," said Jeff Clarke, Travelport's president and CEO. "Our unmatched...
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