Tuesday, August 29, 2006
More new owners for Travelport
The steps toward a bust-up of Travelport has begun. Blackstone has flipped 14% of Travelport in record time to Technology Crossover Ventures. Superfast flip just days after the acquistion was completed. Could just be part of Blackstone trying to spread its risk, additional reworking of the balance sheet and draw out some value. However Blackstone and TCV are not famous for the long haul investments. They both will be looking for way to turn a $4.3 investment into min $5.5-6bil.