Worldspan’s new master
18 July 2003 6:00am
U.S. airlines American, Delta and Northwest agreed to sell Worldspan for $745 million, plus another six-digit figure in additional benefits, to Travel Transaction Processing Corp., a company recently created by Citicorp Venture Capital Equity Partners L.P. and Canada-based Teachers´ Merchant Bank of Toronto.
Management of the company has been put in the hands of Rakesh Gangwal, a veteran in commercial aviation who sat in for Paul Blackney, the company’s current advisor and a member of the board of directors.
