Sabre shares soar on sale of its hospitality business
ReutersApr 28, 2025 2:08 PM
Travel technology provider Sabre Corp SABR.O jumped 26% to $2.75 in morning trading
SABR sells its hospitality solutions business for $1.1 billion to asset manager TPG TPG.O
SABR says it expects cash proceeds, net of taxes and fees, of about $960 mln, to be used primarily to pay down debt
Reuters last month reported on SABR exploring $1 billion-plus sale of hospitality software unit
As of last close, stock down 39% YTD
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