Sabre Holdings goes from public company to private

by PegNews wire

SOUTHLAKE — Sabre Holdings announced that its acquisition by private equity firms Silver Lake Partners and Texas Pacific Group has been completed. At a special meeting of stockholders held last Thursday, stockholders voted to approve the acquisition and adopt the agreement under which Sabre Holdings stockholders would receive $32.75 per share in cash for each share of common stock, without interest and subject to applicable tax withholding.

The shares voted in favor of the acquisition represented approximately 62 percent of the total number of shares outstanding and entitled to vote, and approximately 87 percent of the shares that were voted.

On Monday, the company intends to deregister and delist Sabre Holdings common stock and deregister the company’s 2011 and 2016 senior unsecured notes. After settlement of share transfers that occurred before March 30, there will be no further transfers of the company’s stock. Although it will no longer be a public entity, the company still plans to provide periodic financial updates on its web site.

Posted by T.G.