Cendant Sells Distribution Unit for $4.3 Billion

Cendant Corp. is selling Travelport, its travel distribution services Subsidiary to an affiliate of the Blackstone Group for $4.3 billion. Proceeds will be used to reduce debt levels for Cendant's Realogy (real estate) and Wyndham divisions, which are expected to be spun off in late July. The Travelport deal is expected to close in August.

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