The Blackstone Group is reportedly looking at a possible exit from Travelport, just eight months after buying the holiday company for $4.3 billion (€3.4 billion).
The US buyout firm has appointed banks to explore a range of strategic options for the company, according to the Financial Times.
This may involve a sale or flotation of the whole business, or it may mean breaking it up into its constituent parts: UK wholesale business Gullivers Travel Associates, US website Orbitz, and UK booking site eBookers. The paper suggests that Gullivers and eBookers could be floated together in London, with Orbitz being listed separately on the New York Stock Exchange.
Blackstone paid $4.3 billion for Travelport when it bought the holiday company from US services group Cendant in June last year. The sale was part of Cendant’s plan to separate itself into four independent, publicly-traded companies – one for each of Cendant’s real estate, tracel distribution, hotel and vehicle rental arms. Realogy, the real estate division, was later sold to Apollo Management, another private equity firm.
Blackstone has since bolted on rival travel company Worldspan for $1.4 billion.
The buyout firm was unavailable for comment today.