03-Jul-2006 10:00 AM
Cendant to sell Travelport for USD4.3 billion
Analysis
New York (CENDANT) - Cendant Corporation (NYSE: CD) today announced that it has entered into a definitive agreement to sell Travelport, the Company's travel distribution services subsidiary, to an affiliate of The Blackstone Group for approximately $4.3 billion in cash. The completion of the transaction is subject to satisfaction of customary conditions to closing, including the receipt of applicable regulatory approvals, and is expected to close in August 2006.
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