Travelport Mulls Orbitz IPO
JANUARY 24, 2007. Travelport has appointed USB to look at prospects of an initial public offering of its consumer-facing brand Orbitz, according to reports.
According to the report, Travelport would sell one-third of Orbitz's equity and list the stock on New York or London exchanges in the second quarter. Orbitz is expected to raise a unit value of approximately $3 billion. Travelport, which was formed last year when Cendant split into four separate companies, recently agreed to buy Worldspan for $1.4 billion.
Cendant originally paid $1.25 billion for Orbitz in November 2004., at which time the travel website was controlled by an alliance of its founding airlines.
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