PE firms to buy Sabre for $4.3 bn
Sabre Holdings, owner of website Travelocity, has agreed to be sold to private equity firms Silver Lake Partners and Texas Pacific Group for about $4.3 billion, the New York Times reported on its website on Tuesday, citing people involved in the negotiations.
Under the deal, Sabre shareholders are expected to receive slightly more than $32 a share, the New York Times said, citing people involved in the deal. Sabre’s shares rose 7.5% on Monday to close at $30.43. Sabre, Silver Lake and Texas Pacific were not immediately available for comment.
Sources familiar with the matter said that Silver Lake and Texas Pacific were bidding together for Sabre. Apollo Management was part of a separate private equity bidding group, sources said, which could include Kohlberg Kravis Roberts & Co. Bids for the company were due at the end of last week.
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