Cendant Completes Sales of Non-core Assets
Direct marketer and franchiser Cendant Corp., New York, this week said it completed the sale of two of its divisions, ending the company's endeavor to divest its non-core assets.The company sold coupon book publisher Entertainment Publications Inc. to The Carlyle Group, Washington, and its Green Flag roadside assistance unit in the United Kingdom to rival Direct Line for a combined total value of about $735 million.
The company said that it sold 18 business units for about $4.5 billion, which has been used to repurchase stock and reduce debt.
