Sabre shares soar on sale of its hospitality business

Sabre

28/04/2025 15:08

Updates

** Travel technology provider Sabre Corp SABR.O jumped 26% to $2.75 in morning trading

** SABR sells its hospitality solutions business for $1.1 billion to asset manager TPG TPG.O

** SABR says it expects cash proceeds, net of taxes and fees, of about $960 mln, to be used primarily to pay down debt

** Reuters last month reported on SABR exploring $1 billion-plus sale of hospitality software unit

** As of last close, stock down 39% YTD

 (Reporting by Anshuman Tripathy)

 ((Anshuman.Tripathy@thomsonreuters.com))