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Travelport wins large Singaporean investor
Thursday, January 21, 2010
Travel bookings firm Travelport (formerly Galileo GDS) has booked US$225 million investor ahead of its initial public offering (IPO) in London.

The company won the money from the Government of Singapore Investment Corp (GIC), which will take 7.19 per cent of the enlarged group.

The GIC injection values Travelport at around US$3.13 billion.

The IPO will see more than 50 per cent of Travelport's enlarged share capital sold to new investors, with the proceeds used to cut its US$4.1 billion in borrowings to a target net debt of US$2.3 billion.