TPG and Silver Lake, which together own about 79% of Sabre’s shares, feel that this is an ideal time to take some profits from their investment in the Dallas-based travel technology giant, according to a company filing today.
They plan to sell 20 million shares of Sabre stock. The sale, which, if valued at today’s market closing price, would be $400 million, will leave the two companies with about 72% ownership.
TPG will remain the larger of the two shareholders after the sale, with about a third of the shares, and Silver Lake with nearly a fifth.