Markets

SIRVA To Acquire Realogy's Global Cartus Relocation Business - Quick Facts

(RTTNews) - Realogy Holdings Corp. (RLGY) and SIRVA Worldwide, Inc., a subsidiary of SIRVA, Inc., have reached an agreement under which SIRVA will acquire Realogy's global Cartus Relocation business. The deal is valued at $400 million. Realogy will receive $375 million in cash at closing, and a $25 million deferred payment. Realogy intends to use a substantial majority of the proceeds to pay down corporate debt and use the balance to reinvest in the business.

Tom Oberdorf, SIRVA's CEO, said: "SIRVA's clients will benefit from access to Cartus's well-established Broker Network, while SIRVA's integrated household goods capacity will benefit Cartus customers."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

RLGY