Travelport Dodges Bankruptcy Thanks to $500 Million Pact With Lenders
Skift Take
Travelport's backers have won their feud with lenders. Now Siris Capital and Elliott Management's asset management arm need to defeat payment firm Wex in court over a disputed eNett sale.
Travelport, the travel-booking platform co-owned by Siris Capital and activist investor Elliot Management, borrowed $500 million from its owners in a loan secured in May against the company's core intellectual property, valued at about $1.15 billion, as Skift reported. The owners ring-fenced Travelport's intellectual property, denying it as collateral for Travelport's
