Travelport releases details of upcoming IPO

Travel industry aggregator Travelport has announced it is offering 30 million shares in its upcoming IPO which, at the expected pricing, will raise up to $480 million. Travelport, which links airlines and hotel chains with travel agencies and other ticket buyers, currently competes with travel distributors such as Abacus and Amadeus, and business travel booking sites such as eTravel and Egencia. Travelport also owns 37% of online travel agency Orbitz Worldwide. Blackstone and Technology Crossover Ventures (TCV) bought the company for US$4.3 billion from conglomerate Cendant in 2006. Blackstone’s stake in Travelport will fall to 7.16% after the IPO, from