Thursday, February 01, 2007
No fire sale
Coldwell Banker is owned by a company called Realogy Corp., which also owns Century 21, ERA and Sotheby's International Realty franchises and also a brokerage company called NRT Inc., commercial brokerage operations and relocation and title businesses. So Realogy is a big firm. It is on the market for a paltry $9 billion. It looks as though the company will be bought by an affiliate of Apollo Management LP, a private equity fund.
The deal has to be approved by the shareholders. Realogy was a spinoff of Cendant Corp. And to sort of keep this all in the family, Apollo also owned NRT with Cendant before Realogy was spun off from Cendant.
The deal has to be approved by the shareholders. Realogy was a spinoff of Cendant Corp. And to sort of keep this all in the family, Apollo also owned NRT with Cendant before Realogy was spun off from Cendant.
