Sabre’s key investors TPG and Silver Lake will sell 20M shares
In recent weeks, Sabre Holdings has seen its stock flirt with its highest prices since its initial public offering in April 2014. It closed today at $20 a share, up from $16.
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.