Travelport has been sold to a coalition of US private equity investors.
Siris Capital Group and Evengreen Coast Capital, private equity affiliate of Elliot Management Corp, announced completion of their buyout of the UK-based GDS operator on Monday (December 10).
The investors paid $15.75 per Travelport share, amounting to a valuation of around $4.4 billion.
Travelport’s headquarters will remain in Langley, Berkshire, following the acquisition.
Doug Steenland, chairman of the Travelport board, said the deal was a “good outcome” for the company’s shareholders.
“Assisted by external advisers, the board concluded unanimously, after taking into account the ongoing development needs of the business, entering into this agreement represents the best way to maximise value for shareholders.
“It also enables the company to continue its work to position itself for growth in the evolving global travel industry.”