Cendant to Spin Off New Company By Fall
Cendant Corp., whose brands include Century 21 real estate services and Days Inn hotels, said it filed with regulators to spin off by fall a previously announced new company.
New York-based Cendant said the new company will combine under one roof such Cendant goods and services brands as Shoppers Advantage and Privacy Guard, which offer shopping discounts and credit card protection to their approximately 23.6 million members.
Cendant said it filed with the Securities and Exchange Commission to distribute 100% of the stock of Cendant Membership Services.
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