Travelport’s Plans to Go Private Held Up by Russian Regulators
Photo Credit: Travelport CEO Gordon Wilson was in high spirits when his company debuted on the public markets in New York in 2014. The travel technology company quietly reported its first quarter 2019 earnings on Friday. The company is weeks away from going private. Travelport
Skift Take
Russian regulators have put up obstacles to the long-discussed buyout of the travel technology giant Travelport. Odds are the deal will still be completed, though.
Travelport is set to go private shortly, but the timing has been delayed by regulators.
On March 15, shareholders of the company approved a takeover by financial firms Siris and Evergreen Coast Capital, a unit of hedge fund Elliott Management. However, the deal still faces regulatory approval, including an OK by authorities in the Russia Federation, where the Langley, UK-based company does some business.
In a regulatory filing on Friday, the company said that "the process of obtaining Russian approval has had the effect of delaying completion of the merger, and such approval may not be received, and conditions thereto may not be satisfied for
