Silver Lake and TPG Complete Acquisition of Sabre Holdings
Southlake, TX – March 30, 2007 – Sabre Holdings (NYSE:TSG) today announced the completion of the acquisition of the company by affiliates of Silver Lake and TPG.
At a special meeting of stockholders held Thursday, the company’s stockholders voted to approve the acquisition and adopt the agreement under which Sabre Holdings stockholders are entitled to receive $32.75 per share in cash for each share of the company’s common stock, without interest and subject to applicable tax withholding. The shares that were 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 April 2, 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.
American Stock Transfer & Trust Company (AST) will act as the paying agent to distribute the cash acquisition consideration for shares of the company’s stock. Shareholders will be contacted by AST or their bank, broker or other holder of record with instructions on how to surrender stock certificates for the acquisition consideration. Stockholders should not send stock certificates without a letter of transmittal from the paying agent. For more information, shareholders should contact their bank, broker or other holder of record, or call AST at 718-921-8317 or toll free at 877-248-6417.
About Sabre Holdings
Sabre Holdings connects people with the world’s greatest travel possibilities by retailing travel products and providing distribution and technology solutions for the travel industry. Sabre Holdings supports travelers, travel agents, corporations, government agencies and travel suppliers through its companies: Travelocity, Sabre Travel Network and Sabre Airline Solutions. Headquartered in Southlake, Texas, the company has approximately 9,000 employees in 45 countries. More information is available at http://www.sabre-holdings.com.