Cartus sues sirva. 's proposed $400 million acquisition of a...

Cartus sues sirva. 's proposed $400 million acquisition of a Realogy unit failed due to Realogy’s lawsuit against SIRVA’s private equity owner financing the deal, a Delaware court found. Source: Inman News Madison Dearborn and Oakbrook Terrace-based Sirva, a moving and relocation services business, agreed last November to buy rival Cartus for . Judge says Realogy, not SIRVA, violated terms of the deal. 8%) sues Madison Dearborn Partners and MDP's portfolio company, Sirva Worldwide, for not completing the purchase of Cartus Relocation Services Business from Realogy. Madison Dearborn and Oakbrook Terrace-based Sirva, a moving and relocation services business, agreed last November to buy rival Cartus for $400 million. Cartus’s parent company Realogy Holdings In a regulatory filing, the brokerage conglomerate said it entered a “confidential settlement agreement” with would-be buyer Sirva Worldwide and its parent company, Madison Realogy Holdings (RLGY +3. SIRVA had arranged to buy Cartus in an agreement made in November 2019, but now claims that the COVID-19 pandemic has impacted on Cartus to Realogy Holdings Corp and SIRVA remain locked in a legal battle after SIRVA called off a $US400m agreement to acquire Realogy’s relocation business, Cartus. Real-estate services company Realogy, owners of Cartus, launched a lawsuit on Monday, 27 April, seeking to enforce the 400 million US$ sale of its corporate relocation business to SIRVA and Realogy have settled the dispute over the previously agreed sale of Cartus Relocation. The complaint also disclosed, however, Realogy Holdings filed a lawsuit in the Court of Chancery of the State of Delaware against certain affiliates of Chicago-based Madison Dearborn Partners, LLC and SIRVA Worldwide, SIRVA Worldwide Inc. Realogy Holdings Corp and SIRVA remain locked in a legal battle after SIRVA called off a $US400m agreement to acquire Realogy’s relocation business, Cartus. The ruling means the acquisition won’t go forward, but Realogy can pursue a $30M termination fee.


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