Wyndham Worldwide Corporation (NYSE:WYN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On March27, 2018, following completion of certain Dutch works council consultation procedures, Wyndham Destination Network, LLC, a Delaware limited liability company and a subsidiary of Wyndham Worldwide Corporation (“Wyndham Worldwide”), and certain other subsidiaries of Wyndham Worldwide entered into the Share Sale Agreement (the “SPA”), previously described in Wyndham Worldwide’s Current Report on Form8-K filed with the Securities and Exchange Commission on February 15, 2018 (the “Prior Disclosure”), to which Wyndham Worldwide will sell the Wyndham Vacation Rentals Europe business to Compass IV Limited, an affiliate of Platinum Equity, LLC. Closing of the divestiture is expected to occur during the second quarter of 2018 and is subject to, among other things, approval of the divestiture by the UK Financial Conduct Authority. Merger control approval for the divestiture was received from the European Commission on March 23, 2018. Item 1.01 of the Prior Disclosure is incorporated by reference herein, along with the Forward-Looking Statements included in the Prior Disclosure.