United Kingdom
United States
Asia Pacific
Cendant receives interest in TDS
Cendant’s Travel Distribution Services division – to be re-named Travelport – could be sold rather than spun off as a separate unit.
Cendant Corp confirmed it has received unsolicited interest in the division – which includes Galileo, Gullivers Travel Associates and Orbitz.
Financial advisors have been hired for a potential sale which could net Cendant more than $4 billion.
Cendant originally planned to spin-off TDS by October as part of a plan to split its various businesses up.
But the group is now considering a sale of TDS because a transaction is not expected to result in a large tax liability.
Cendant chairman and CEO Henry Silverman said: “As a result of receiving a number of unsolicited indications of interest to acquire TDS, the company has decided to further explore other strategic alternatives for that business.
“The company’s decision to consider a sale in addition to purusing a spin-off is due, in part, to the fact that a sale of TDS is not expected to result in a material tax liability, as would a sale of Cendant’s other divisions.”
Report by Phil Davies
Phil Davies
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Gatwick braces for strike