The summary below includes events at Liberty TripAdvisor Holdings following the 2014 spin-off from Qurate Retail, Inc. (formerly Liberty Interactive Corporation). For information on Qurate Retail, Inc.’s history, please refer here.
Liberty Interactive Corporation’s Liberty Ventures Group tracking stock completes the spin-off of its controlling interest in TripAdvisor Inc. and former subsidiary BuySeasons into a new asset backed stock; Liberty TripAdvisor Holdings, Inc.
Press ReleaseLiberty TripAdvisor announces a $325 million investment by funds managed by Certares Management LLC, whereby Certares purchased $325 million of 8% Series A Cumulative Redeemable Preferred Stock. The net proceeds from this investment, combined with $34 million of secured borrowings against a variable price forward and cash on hand, were used to repay 100% of the outstanding balance under Liberty TripAdvisor’s then-existing margin loan. Upon completion of this investment, Greg O’Hara, Founder and Senior Managing Director of Certares, joined the Liberty TripAdvisor Board.
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