Industry News

Cendant ponders delay of Realogy spin-off

Company will likely sell travel distribution services segment
Published on Jun 9, 2006

Cendant Corp. officials today announced they are considering a delay in the spin-off of Realogy, its real estate division, until July. The announcement comes a week after officials said that "Realogy common stock would begin trading on the New York Stock Exchange on a 'when issued' basis in mid-June and as a separate public company by the end of June." The company "is exploring the possibility of simultaneous spin-offs of its Realogy Corp. and Wyndham Worldwide Corp. subsidiaries in mid-July, instead of spinning off those companies at different times as previously contemplated," according to today's announcement. Cendant's Real Estate Services Division, which will become Realogy Corp. upon completion of its spin-off from Cendant, is the world's largest residential real estate brokerage franchisor, the largest U.S. residential real estate brokerage firm, a provider of relocation services, and a provider of title and settlement services. Cendant's real estate brands include Century 21,...

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