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BUSINESS
March 3, 2007 | From Bloomberg News
Realogy Corp., owner of the Century 21, Coldwell Banker and ERA real estate brokers, agreed to place more than 500,000 listings on Google.com and Trulia.com. The move will broaden the exposure of listings from Realogy companies because more than 58% of all Internet searches for "real estate" are conducted on Google and its partner sites, Parsippany, N.J.-based Realogy said. Google Inc. operates the most-used Internet search engine, and Trulia enables the public to find properties online.
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BUSINESS
July 1, 2006 | From Times Wire Services
Cendant Corp. has agreed to sell its travel services division to an affiliate of private equity firm Blackstone Group for about $4.3 billion in cash, scrapping plans to spin off the unit. The New York-based company said Friday that it expected to complete the sale of Travelport, which owns the Orbitz online travel agency and Cheaptickets.com, in August. Shares of Cendant rose 52 cents, or 3.3%, to $16.29. The move is part of a plan announced in October to split Cendant into four companies.
BUSINESS
February 26, 2009 | Times Wire Reports
Buyout firm Apollo Management agreed to invest as much as $150 million in Realogy Corp. after the real estate broker reported a 2008 loss of $1.91 billion. Realogy, owner of the Century 21 and Coldwell Banker brands, said that Apollo would provide the "equity infusion" only if necessary and that it might not need the full amount. Realogy said it remained in compliance with debt agreements, according to a regulatory filing Wednesday. "This is very powerful support to us during these challenging times and is not available to most companies or our competitors," Chief Financial Officer Anthony E. Hull said.
BUSINESS
May 26, 2007 | From the Associated Press
Federal regulators have sued Coldwell Banker, Prudential and other real estate giants, contending that their brokers took kickbacks for steering Californians to a company that reports on earthquake and other hazards for homes being sold. Brokers got $25 out of each $100 fee that the company, Property I.D., charged home sellers for creating a report, according to the suit filed Thursday in federal court.
BUSINESS
December 18, 2006 | From Bloomberg News
Realogy Corp., the largest U.S. residential real estate broker, agreed to be acquired by private equity firm Apollo Management for about $6.4 billion amid a slump in the U.S. housing market. Residential brokers including Realogy have been hurt by a U.S. housing market slowdown. Home prices fell in about a third of U.S. metropolitan areas in the third quarter as the slump forced sellers to accept lower bids, the National Assn. of Realtors said last month.
BUSINESS
April 25, 2006 | From Reuters
Cendant Corp. said Monday that it was considering selling its travel services division, including the Orbitz and CheapTickets websites, to help pay down debt. The unit could fetch as much as $4.5 billion, sources familiar with the situation said. A sale would be an alternative to a planned spinoff, part of a break-up announced by Cendant last year aimed at boosting the company's stock performance and reversing more than a decade of acquisitions.
BUSINESS
August 9, 2008 | Peter Y. Hong, Times Staff Writer
Hundreds of thousands of Californians could be eligible for $100 payments under the proposed settlement of a class-action lawsuit against some of the nation's largest residential real estate brokerages. The lawsuit accused the real estate brokers of taking kickbacks from a firm that provides hazard reports for properties in areas with heightened risk of floods, fire, earthquakes and landslides. The settlement agreement is pending final approval by a U.S. district judge in Los Angeles.
BUSINESS
January 16, 2014 | By Stuart Pfeifer
Private equity firm Apollo Global Management has agreed to purchase the Chuck E. Cheese's restaurant chain for $1.3 billion in cash and assumed debt, Apollo said in a news release. An affiliate of Apollo will pay $54 a share to acquire the pizza chain's parent company, CEC Entertainment Inc. The per-share price is 11.5% above CEC's closing price Wednesday -- and about 25% its close on Jan. 7, the day before reports surfaced that the company was preparing to be sold. "We are pleased to have reached this agreement with Apollo, which maximizes value for all of our shareholders," CEC Executive Chairman Richard M. Frank said in a statement.
CALIFORNIA | LOCAL
January 6, 2010 | Alejandro Lazo
Arthur E. Bartlett, a consummate salesman and co-founder of the real estate behemoth Century 21, died New Year's Eve at his Coronado home after a long bout with Alzheimer's disease and other sicknesses, his daughter Stacy Bartlett Renshaw said. He was 76. A firm believer in the power of the large, corporate brand, Bartlett pioneered the concept of conversion franchising, in which he persuaded independent real estate agents across the country to don the signature mustard-colored jacket and market themselves as Century 21 salespeople.
REAL ESTATE
December 23, 2007 | Michelle Hofmann, Special to The Times
Although Peter Mayle and his wife traveled to France as often as they could every year, "during the long gray winters and damp green summers" in England, he longed to return to the vineyards, quiet streets, perfumed olive trees and open-air markets of France's picturesque backcountry. "It had always been an ambition of ours to get a house there and move," Mayle said.
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