By Adriano Marchese
Sabre shares jumped in early trading after the travel-technology company agreed to sell its hospitality-solutions unit to TPG for $1.1 billion.
Shares traded 23% higher at $2.71.
Sabre, based in Southlake, Texas, said on Monday that it intends to use the proceeds to pay down debt, strengthen its balance sheet, and double down on its core business.
Sabre first purchased SynXis, which formed the core of its hospitality business, in 2005.
The transaction is expected to close in the third quarter.
TPG shares rose 1.5% to $47.24.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 28, 2025 10:07 ET (14:07 GMT)
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