Global travel company Sabre Holdings, has become a private company following its completed acquisition by Texas Pacific Group (TPG) and Silver Lake Partners for approximately $5bn (£2.5bn)
Company stockholders are entitled to receive $32.75 per share in cash for each share of the company's common stock, which will be administered by American Stock Transfer & Trust Company (AST). After settlement of share transfers that occurred before 30 March, there will be no further transfers of the company”s stock.
”We are excited by the opportunity to invest in Sabre given its leadership position in travel technology and distribution and the strength of Travelocity and its other leading online brands,” said TPG partner, Karl Peterson. ”Sabre is well positioned to continue innovating and we look forward to helping management profitably build upon this strong franchise.”
Headquartered in Southlake, Texas the company employs 9,000 people in 45 countries worldwide and includes leading travel brands such as Travelocity, lastminute.com, global distribution system (GDS), Sabre Travel Network and airline software and passenger solutions company, Sabre Airline Solutions.