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Cendant acquire Gulliver and Octopus
Cendant Corporation (NYSE: CD) announced that it has completed the acquisition of privately held, UK-based Gullivers Travel Associates, the trading name of Donvand Ltd., Travel Bound, Inc. and Octopus Travel Group Ltd. (together: Gullivers). Gullivers is a leading wholesaler and global online provider of hotels, destination services, travel packages and group tours. Our acquisition of Gullivers positions Cendant as a leading global travel intermediary + said Samuel L. Katz, chairman and CEO of Cendantís Travel Distribution Services Division. Over time, we expect the acquisition to provide considerable cross-selling opportunities in our customer channels and facilitate our growth strategies in China and Japan + Actually Cendant also entered into an agreement to sell Travelport, Inc., the Companyís subsidiary that holds the assets and liabilities of its former Travel Distribution Services businesses, to an affiliate of The Blackstone Group for $4.3 billion in cash. Cendant Corporation is primarily a provider of travel and residential real estate services. With approximately 90,000 employees, New York City-based Cendant provides these services to businesses and consumers in over 100 countries. More information about Cendant, its companies, brands and current SEC filings may be obtained by visiting the Company's Web site at www.cendant.com.