Travel Website, Orbitz Files For An IPO
Orbitz Worldwide Inc. is based in Chicago, IL and is a direct competitor of Expedia, Travelocity, and Priceline.com. Orbitz offers connects consumers to airline tickets, hotel reservations, cruise line packages, and car rental services.
Travelport Limited is the parent company of Orbitz that filed the registration statement with the Securities and Exchange Commission. The amount being offered is $750 million worth of shares.
The book runners of the offering are Morgan Stanley & Co. Incorporated, Goldman, Sachs & Co., Lehman Brothers Inc. and J.P. Morgan Securities Inc. Travelport is owned by The Blackstone Group of New York, Technology Crossover Ventures of Palo Alto, California, and One Equity Partners of New York. Travelport made $2.6 billion in revenues last year.
[Information Source: Travelport official statement]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry