EU sets deadline for inquiry into Travelport deal

The European Commission has set a deadline for its inquiry into private equity group Blackstone’s buy of Travelport for August 22. The deal, valued at $4.3 billion, is being examined under the EU’s simplified merger review procedure which handles cases the commission believes do not pose competition concerns.

On its part, Cendant Corporation has already announced today that its Board of Directors has formally approved the spin-offs of its real estate services and hospitality services (including timeshare resorts) businesses through the distribution of 100 percent of the common stock of its Realogy Corporation and Wyndham Worldwide Corporation subsidiaries to stockholders of Cendant Corporation.

The distributions are expected to occur after the close of business on July 31, 2006 to Cendant stockholders of record as of the close of business on July 21, 2006.