Tripadvisor will repurchase its Series A and Series B common stock from Liberty TripAdvisor Holdings, which has Controlled the online travel company since 2012the transaction value is US$435 million.
The companies announced the merger Thursday morning, with the deal expected to close in the second quarter of 2025. The repurchase represents approximately 19% of Tripadvisor’s common shares and Class B common shares.
“We are pleased with our agreement with Liberty TripAdvisor and I want to thank the Special Committee for their hard work on behalf of all stakeholders,” said Matt Goldberg, president and CEO of Tripadvisor.
“This transaction provides a unique and advantageous opportunity to simplify our capital structure, create strategic flexibility and exit a majority of our holdings while maintaining a healthy balance sheet. We believe this transaction marks a new milestone for Tripadvisor Times, we are excited to continue pursuing our strategic vision in travel and experiences.”
tripadvisor A special committee was established in February Explore the potential of selling your company. then in Maybe it announced it was no longer considering selling Because the committee determined that this was “not in the best interests of the company and its shareholders.”
“We believe this transaction will maximize value for Liberty TripAdvisor stakeholders given the heightened challenges Liberty TripAdvisor’s capital structure has faced during the COVID-19 pandemic,” said Greg Maffei, chairman of Liberty TripAdvisor. This will simplify Tripadvisor’s corporate structure and allow management to focus on future operational strategies,” said Tripadvisor Board of Directors and Liberty TripAdvisor President and CEO.
“There is value to be unlocked at Tripadvisor, particularly in experiences, and the company will be more nimble to seize these opportunities through a simplified corporate structure. We applaud Tripadvisor and Certares for their work in reaching this agreement.”
Tripadvisor said the deal was unanimously recommended by a special committee of “independent and disinterested directors” and approved by both companies’ boards of directors. The transaction requires approval by a majority of Liberty Tripadvisor shareholders.
Founder: Steve Kaufer, 2000the company was acquired by IAC in 2004 and spun off from Expedia in 2005, subsequently Became a listed company in 2011. one year later Liberty Interactive Corporation purchased a controlling interest And in 2014, a new entity, Liberty Tripadvisor Holdings, was established.
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