Travelport agreed to sell its Gullivers Travel Associates tourism intermediary to Kuoni for $720 million

To reduce its $2.8 billion debt, , the companies announced. "The agreed sale is in line with Travelport's strategic plan to focus on maximizing the potential of its core business," according to a prepared statement that also indicated the deal was expected to close in May. "The transaction is conditioned on the majority approval by Travelport's bank lenders and a vote by the shareholders of Kuoni in favor of a capital increase by Kuoni to finance the transaction." GTA's net revenue in 2010 was $294 million, compared with about $2 billion for the remaining global distribution system business, according to Travelport. GTA recorded $84 million in adjusted earnings before interest, taxes, depreciation and amortization of earnings last year, versus an expected $545 million for Travelport GDS.