Travelport Finally Goes Private This Week in $4.4 Billion Deal
Skift Take
By the end of this week, Travelport is expected to leave the public markets in a $4.4 billion leveraged buyout. After months of waiting, the company can finally move on to its next steps.
Travelport Worldwide will go private in a $4.4 billion deal expected to be finalized on or about Thursday, May 30, pending approvals, according to Standard and Poor's, which will drop Travelport from its indexes after markets close at the end of this week.
A Travelport spokesperson had no comment. The company said earlier this month that the deal would be completed by July 1 by a consortium of buyout firm Siris Capital and an arm of hedge fund Elliott Management.
Russian antitrust officials were expected to approve Siris Capital's acquisition of Travelport shortly, news service DealReporter reported Tuesday. Russian officials had been delaying an OK of the deal.
Travelport announced the leveraged buyout in December 2018. Elliott had agitated for a deal since March 2018, when the New York-based activist hedge fund revealed it had taken a 12 percent stake in the Langley, UK-based e-commerce platform for the travel sector.
Travelport's Future
In the past year, Travelport
