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NEW YORK CITY-Cendant Corp. has completed the second and final stage of its Trendwest Resorts Inc. acquisition. Hotel franchisor Cendant closed the $1-billion deal in record time, beating many observers’ estimates by two months.

Cendant, which owns Fairfield Resorts timeshare communities, acquired 90% of Trendwest common stock for $925 million worth of Cendant stock and absorbed $75 million of Trendwest debt.

Each outstanding share of Trendwest common stock has been converted into the right to receive 1.3074 shares of Cendant common stock.

Cendant Corporation is a provider of travel and residential real estate services. With approximately 70,000 employees, Cendant, based here, serves business and consumers in more than 100 countries.

Trendwest Resorts, Inc., headquartered in Redmond, WA, provides timeshare accommodations through its exclusive relationships with WorldMark, the Club, and WorldMark South Pacific Club.

Click here to read GlobeSt.com’s earlier story.

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