Travelport Limited, the parent company of the Travelport group of companies, revealed its intention to sell a portion of its ownership interest in its Orbitz Worldwide businesses, comprised of Travelport’s business to…
Travelport Limited, the parent company of the Travelport group of companies, revealed its intention to sell a portion of its ownership interest in its Orbitz Worldwide businesses, comprised of Travelport’s business to consumer businesses, in an initial public offering.
The size of the ownership interest to be sold and the amount of proceeds to be received from the disposition of Orbitz Worldwide are yet to be determined. A portion of the proceeds will be used by Travelport to reduce its indebtedness. It is expected that a registration statement will be filed in the second quarter of 2007 with the Securities and Exchange Commission and that the transaction will be completed in the third quarter of 2007.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
