Company: SABR
Filing Date: 2025-04-28
Form Type: 8-K
Source: 0001193125-25-100450
Chunk: 0

Company: Sabre Corp
Filing Date: 2025-04-28
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01. Entry into a Material Definitive Agreement.

Purchase Agreement

On April 27, 2025, Sabre GLBL Inc. (“ Seller”), a Delaware corporation and a wholly owned subsidiary of Sabre Corporation, a Delaware corporation (“ Parent”), Parent, Sabre HS Inc., a Delaware corporation (the “ Company”), and Whitney Merger Sub, Inc., a Delaware corporation (“ Buyer”), entered into a Stock Purchase Agreement (the “ Purchase Agreement”), whereby, subject to the conditions and terms set forth therein, Parent will sell its hospitality solutions business (the “ Business”) to Buyer for an aggregate cash purchase price amount of approximately $1,100,000,000, subject to customary purchase price adjustments.

The Purchase Agreement contains customary representations, warranties and covenants. Among other things, Seller has agreed, subject to certain exceptions, to, and to cause each of its affiliates to, conduct the Business in the ordinary course, consistent with past practice, from the date of the Purchase Agreement until the closing of the transactions contemplated by the Purchase Agreement (the “ Closing”) and not to take certain actions prior to the Closing without the prior written consent of Buyer. Parent and Seller have made certain additional customary covenants, including, among others and subject to certain exceptions, that Seller will not, and will cause its affiliates not to, solicit proposals relating to acquisition proposals for the Business and not to participate in discussions concerning, or furnish information in connection with, such acquisition proposals.

In addition, subject to the terms of the Purchase Agreement, each of Seller and Buyer are required to use reasonable best efforts to obtain all required regulatory approvals, including, among others, certain regulatory approvals with the Antitrust Division of the United States Department of Justice.

Closing Conditions and Termination Rights

The transaction is expected to close by the end of the third quarter of 2025 and is subject to customary closing conditions, including, among others, (i) the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, (ii) the absence of legal restraints preventing the consummation of the transaction, and (iii) with respect to the obligation of Buyer to consummate the Closing, (x) the accuracy of the representations and warranties contained in the Purchase Agreement of Parent and Seller (subject to certain qualifications), (y) the performance by the parties of Parent, Seller and the Company of their respective obligations under the Purchase Agreement in all material respects and (z