Industry News

‘H’ marks the stock for Cendant’s real estate segment

Cendant takes steps to list Realogy on NYSE

They say that breaking up is hard to do, though Cendant Corp. is taking steps toward splitting into four different business segments. Cendant officials announced Monday that Realogy Corp., a Cendant subsidiary, has filed a registration statement with the U.S. Securities and Exchange Commission related to the subsidiary's planned separation from Cendant. Realogy is slated to become the future home of Cendant's Real Estate Services Division. Cendant officials say the Realogy spinoff is on track for June 2006. Realogy will apply to have its common stock listed on the New York Stock Exchange under the symbol "H," Cendant also announced Monday. Wyndham Worldwide, which is slated to be the future parent company of Cendant's Hospitality Services and Timeshare Resorts business segments, will soon file a registration form with the SEC, according to the announcement. Richard A. Smith, chairman and CEO of the Cendant Real Estate Services Division, will serve as vice chairman and president of Re...

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