Deals
Elliott’s Travelport Offers to Undo Disputed Deal. For a Price
- Owners will undo asset transfer if creditors take loss on loan
- Travel booking company pressured by global virus restrictions
Photographer: SeongJoon Cho/Bloomberg
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Travelport, controlled by Elliott Management Corp. and Siris Capital Group, is offering to unwind a controversial asset move, but only if lenders agree to take a hit.
The owners of the global bookings operator told lenders over the weekend they could undo a move that shifted valuable intellectual property away from creditors’ reach if they are willing to compromise on a debt exchange, according to people with knowledge of the matter.