Travelport updates how it describes its growth strategies
To encourage share-buying of Angelo, Gordon & Co's offerings, Travelport included a picture of its financial health in each filing with the US Securities & Exchange Commission.
Travelport, which went public in 2014, said on Thursday in a financial filing in the US that one of its New York-based shareholders, Angelo, Gordon & Co will be selling 7,986,979 shares in the company, collectively owned across several funds.
In brief, Angelo, Gordon is cashing out.
Back in 2014, after its initial public offering, its funds owned 12% of Travelport. But last March, Angelo, Gordon announced the sale of 10 million of its shares, an offering that came only four months after the firm having sold about 4 million shares. If the latest sale goes according to plan, it will own no more shares in the company.
Update to its “growth strategies” statement
To encourage share-buying in each of these offerings, Travelport included a picture of its financial health in each filing with the US Securities & Exchange Commission.
Much of the “growth strategies” covered in the latest prospectus is copy-and-pasted from the November 2015 prospectus. But a few sections have been added, and the new wording may be noteworthy.
In November 2015, the company said it had “signed over 120 airlines” to its Rich Content and Branding solution. Now it says it currently has “approximately 170 airlines implemented” on the solution.
Speaking of Hotelzon, a B2B hotel distribution technology provider it acquired in 2014, Travelport added to its “growth strategies” boilerplate:
“The Hotelzon solution also works well when a corporate hotel booking is not an ‘add on’ to an air booking, which is particularly the case for travel within Continental Europe, where many business trips actually take place in the traveller’s home country or to bordering countries, and trains and cars are often the preferred method of transport rather than flights. Through Hotelzon’s technology, privately negotiated rates for corporations can be added and accessed directly by the corporation and its employees.”
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