Cendant will conduct its annual stockholders meeting Aug. 29 during which shareholders will vote on changing the company name to Avis Budget Group Inc., according to Travel Weekly.
Cendant’s car rental business accounted for some 30 percent of Cendant’s revenue in 2005, Travel Weekly reports.
By Aug. 1, Cendant’s former real estate and lodging businesses, now called Realogy and Wyndham Worldwide, respectively, will have separated from the parent company. Cendant also expects the Travelport sale to a Blackstone Group affiliate to be completed in August.
Cendant’s corporate offices in Manhattan would be closed, with the corporate headquarters of Avis Budget Group to be located in Parsippany, N.J. At the annual meeting, shareholders will vote on several other matters, including the election of directors, the appointment of auditors and a reverse stock split proposal.