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Travelport Announces Initial Public OfferingJanuary 19, 2010 By: George Dooley
Travelport Holdings (Jersey) Limited (to be renamed Travelport plc) has announced its intention to proceed with an unregistered offering of shares within the United States in connection with an initial public offering of shares being made to institutions in the United Kingdom and to eligible institutional investors internationally.
The proposed initial public offering is intended to raise $1.775 billion, with the net proceeds used to reduce indebtedness of the Travelport group. The transaction is expected to close in the first quarter of 2010, subject to market and other customary conditions.