Tripadvisor’s Controlling Shareholder Gets $325 Million Investment From Certares
Photo Credit: Greg Maffei, chairman and CEO Liberty Tripadvisor, at a Churchill Club event. Liberty Tripadvisor secured $325 million to pay off an existing loan. Churchill Club
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This deal between Liberty Tripadvisor and Certares Management ensures that Tripadvisor won't be shedding its controlling shareholder anytime soon. With Liberty Tripadvisor paying off debt, it will now be charged with ensuring that its namesake Tripadvisor has a viable future, as well, once the coronavirus crisis passes.
In a move that stabilizes Tripadvisor's ownership structure, private equity firm Certares Management purchased $325 million of preferred stock in Liberty Tripadvisor, and becomes a strategic investor.
Share of Greg Maffei's Liberty Tripadvisor, which controls 57.5 percent of Tripadvisor's voting power, have fallen 83 percent so far this year, and closed at $1.52 per share on March 13.
With the transactio
