On October 23, 2005, the Board of Directors of Cendant Corporation (the “Company”) preliminarily approved a plan to separate the Company into four separate companies – one for each of the Company’s Real Estate Services, Hospitality Services (including Timeshare Resorts), Travel Distribution Services and Vehicle Rental businesses (the “Separation Plan”).
On July 31, 2006, the Company distributed to its stockholders 100% of the shares of common stock of Realogy Corporation, the Company’s subsidiary that holds the assets and liabilities of its former Real Estate Services businesses, and Wyndham Worldwide Corporation, the Company’s subsidiary that holds the assets and liabilities of its former Hospitality Services (including Timeshare Resorts) businesses.
Click here for the Cendant/Realogy/Wyndham cost basis information.
On June 30, 2006, the Company also entered into an agreement to sell Travelport, Inc., the Company’s 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. With the closing of this sale on August 23, 2006, the Separation Plan was completed.
The Company is now comprised principally of its vehicle rental operations of Avis Budget Car Rental, LLC, which through its Avis and Budget brands, is the largest general-use vehicle rental operator in each of North America, Australia, New Zealand and certain other regions.
Following stockholder approval on August 29, 2006, the Company changed its name to Avis Budget Group, Inc.
Relevant Cendant Corporate Press Releases | Relevant IR information
Cendant Corporate Press Releases
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09-05-2006 CENDANT ANNOUNCES RESULTS OF ANNUAL MEETING OF STOCKHOLDERS
08-23-2006 CENDANT COMPLETES SALE OF TRAVELPORT TO BLACKSTONE GROUP
08-09-2006 CENDANT REPORTS RESULTS FOR SECOND QUARTER 2006
07-28-2006 CENDANT PROVIDES ADDITIONAL INFORMATION RELATED TO VEHICLE RENTAL BUSINESS
07-25-2006 CENDANT ANNOUNCES PRICING OF TENDER OFFERS
07-24-2006 CENDANT COMMENTS ON PHH CORPORATION'S SEC FILING
07-19-2006 CENDANT SPIN-OFF COMPANIES BEGIN 'WHEN ISSUED' TRADING
07-10-2006 CENDANT EXTENDS EXPIRATION TIME FOR TENDER OFFERS
06-22-2006 CENDANT'S ANNUAL MEETING OF STOCKHOLDERS TO BE HELD AUGUST 29, 2006
06-14-2006 CD ANNOUNCES TENDER OFFERS & CONSENT SOLICITATIONS
04-26-2006 CENDANT REPORTS RESULTS FOR FIRST QUARTER 2006
04-03-2006 CENDANT CORPORATION ANNOUNCES FILING OF REALOGY CORPORATION REGISTRATION STATEMENT
03-21-2006 CENDANT HOSTS 2006 INVESTOR DAY CONFERENCE FOR INSTITUTIONAL INVESTORS
02-13-2006 CENDANT REPORTS RESULTS FOR 4th QUARTER AND FULL YEAR 2005
10-25-2005 CENDANT CORPORATION CEO INCREASES OWNERSHIP
10-24-2005 CENDANT REPORTS RESULTS FOR 3RD QUARTER 2005
10-18-2005 CENDANT'S BOARD OF DIRECTORS APPROVES QUARTERLY CASH DIVIDEND OF $0.11 PER COMMON SHARE
10-17-2005 CENDANT CORPORATION COMPLETES PREVIOUSLY ANNOUNCED SALE OF MARKETING SERVICES DIVISION
10-12-2005 CENDANT COMPLETES PREVIOUSLY ANNOUNCED WYNDHAM ACQUISITION
09-15-2005 CENDANT ACQUIRES COLDWELL BANKER SUCCESS REALTY AND ITS AFFILIATED COMPANIES IN ARIZONA AND NEW MEXICO
09-14-2005 CENDANT TO ACQUIRE THE WYNDHAM BRAND AND FRANCHISE SYSTEM
Click here to download 2004-2006 quarterly revenue and EBITDA by reportable segment.
Click here to download quarterly revenue drivers and key operating statistics.
Click here to download a reconciliation of 2005 EBITDA growth excluding the TDS impairment charge.