U.S. private equity firm Platinum Equity Partners is in late-stage discussions to acquire hospitality company Wyndham Worldwide Corp.'s European vacation-rentals business in a transaction that values the unit at approximately US$1 billion, including debt, The Wall Street Journal reported, citing "people familiar the matter."
Vacation-rental website Airbnb Inc. was previously reported to be in the lead position to acquire Wyndham's European villa rentals division. The unnamed sources told the WSJ that Platinum Equity beat rivals Blackstone Group LP, CVC Capital Partners Ltd. and PAI Partners for the business.
The transaction, if completed, could be announced later in the week, the report added.
