trending Market Intelligence /marketintelligence/en/news-insights/trending/esjrxwyri1wm4pshinj_vq2 content esgSubNav
In This List

Wyndham discloses termination fees for European biz sale

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook


Wyndham discloses termination fees for European biz sale

Wyndham Worldwide Corp. disclosed the fee to be incurred in case the deal for the sale of its European vacation rental business is terminated.

On Feb. 15, Wyndham Destination Network LLC and certain other Wyndham subsidiaries agreed to sell their Wyndham Vacation Rentals Europe business to Compass IV Ltd., an affiliate of Platinum Equity LLC, for roughly $1.3 billion. Closing of the transaction is expected to occur during the second quarter, subject to certain approvals and customary closing conditions.

Either Compass or Wyndham may terminate the agreement if requisite approvals have not been obtained on or before July 2. Compass may also cancel the deal if Wyndham fails to secure sufficient credit support for the business prior to closing, and Wyndham would have to pay Compass a $55 million break fee.

If Wyndham decides to terminate the deal before closing, the company would be required to pay Compass the same amount.