The Firm is representing funds managed by Certares Management LLC (“Certares”) in connection with their agreement to purchase $325 million of 8% Series A Cumulative Redeemable Preferred Stock in Liberty TripAdvisor Holdings, Inc. (“Liberty TripAdvisor”) (Nasdaq: LTRPA, LTRPB).
Liberty TripAdvisor consists of its subsidiary TripAdvisor, the world’s largest online travel community, aggregating reviews and opinions from its community of travelers about destinations, accommodations, restaurants and activities throughout the world. Upon completion of this investment, Greg O’Hara, Founder and Senior Managing Director of Certares, is expected to join the Liberty TripAdvisor Board.
The Simpson Thacher team for this transaction includes Juan Naveira, Eric Swedenburg, Anthony Vernace, Janet Yu, Nina Bakhtina and Tarra Theisen (M&A); Risë B. Norman (Capital Markets); Andrew Purcell and Sophie Staples (Tax); Jennifer Levitt (Banking & Credit); Peter Guryan and Kelly Karapetyan (Antitrust); and Jonathan Lindabury and Caitlin Wood (Derivatives).