Cleary Gottlieb represented Sabre Corporation in its $721 million initial public offering of approximately 45.1 million shares of common stock (including full exercise of the underwriters’ option to purchase additional shares of common stock). The offering priced at $16.00 per share on April 16, 2014 and closed on April 23, 2014, and the option to purchase additional shares of common stock closed on April 25, 2014. Sabre is majority-owned by affiliates of TPG Global and Silver Lake Partners, which did not participate in the offering and continue to own approximately 80% of the company.
Sabre is a leading technology provider to the global travel and tourism industry. Sabre’s software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, such as passenger and guest reservations, revenue management, and flight, network and crew management. Sabre also operates a leading global travel marketplace, processing over $100 billion of estimated travel spending in 2013 by connecting travel suppliers to their most valued customers, the business traveler. Headquartered in Southlake, Texas, USA, Sabre employs approximately 10,000 people in approximately 60 countries around the world.
