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In June 2004, Cendant sold Jackson Hewitt for $638 million through an initial public offering. [47] In January 2005, Cendant spun off its mortgage and fleet management businesses as PHH Corporation. [48] [49] The next month, Cendant sold its Wright Express division, a provider of fleet cards, for $1.03 billion through an initial public offering ...
Between April 30, 1997 and February 1, 2005, PHH was a wholly owned subsidiary of Cendant Corporation (now known as Avis Budget Group) and its predecessors that provided mortgage banking services, facilitated employee relocations and provided vehicle fleet management and fuel card services. [citation needed]
In 2005, Cendant split off all but its car rental interests into separate companies. Realogy was formed to group its real estate activities; shares in the new company were distributed to existing Cendant shareholders. [3] In late 2006, it was bought for $6.65 billion, plus debt and other liabilities, by Apollo Global Management, a private ...
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Avis Budget Group, Inc. is an American car rental agency holding company headquartered in Parsippany, New Jersey.It is the parent company of several brands including Avis Car Rental, [3] Budget Rent a Car, [4] Budget Truck Rental, Payless Car Rental, and Zipcar.
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On April 16, 2014, the Company and non-controlling members of StreetLinks entered into a purchase and sale agreement with Assurant Services, LLC, a subsidiary of Assurant, Inc., pursuant to which Assurant purchased 100% of the outstanding membership units of StreetLinks in exchange for $60.0 million paid in cash at closing and up to $12.0 ...