Liberty TripAdvisor Holdings Announces $325 million Investment by Certares

ENGLEWOOD, Colo.--(BUSINESS WIRE)--Liberty TripAdvisor Holdings, Inc. (“Liberty TripAdvisor”) (Nasdaq: LTRPA, LTRPB) announced today that it has entered into an Agreement (“Agreement”) with funds managed by Certares Management LLC (“Certares”) whereby Certares will purchase $325 million of 8% Series A Cumulative Redeemable Preferred Stock. The net proceeds from this investment, combined with $34 million of secured borrowings against a variable price forward and cash on hand, will repay 100% of the outstanding balance under Liberty TripAdvisor’s existing margin loan. Upon completion of this investment, Greg O’Hara, Founder and Senior Managing Director of Certares, is expected to join the Liberty TripAdvisor Board.