Travelport Gets Stiffed by Coronavirus as Wex Walks Away From $1.7 Billion Payments Deal
Skift Take
It is likely back to square one for Travelport, which has tried to sell its hottest commodity, payments provider eNett, for years. It's possible another buyer may emerge, but at a price far below the $1.7 billion deal that the parties struck in a now-vaporized bygone era.
Chalk up another blown-up travel-related acquisition deal to the coronavirus pandemic. In this one, Maine-based Wex Inc. informed the UK's Travelport that it will not close on its $1.7 billion agreement to buy eNett and Optal, payment solutions providers, because the Covid-19 pandemic created a materially adverse effect.
Travelport, which controls eNett, and Optal shareholders, who own around a 25 percent stake in eNett, filed separate claims in the UK this week trying t
