The would-be buyer of Realogy’s relocation business called off the $400 million deal because it feared the brokerage giant was close to insolvency, according to court documents unsealed Friday. Realogy filed a complaint on April 27 claiming Madison Dearborn Partners and subsidiary SIRVA were using the coronavirus as an eleventh-hour excuse for backing out of the deal. The complaint also disclosed, however, that SIRVA believed the pandemic had a “devastating” impact on Realogy’s relocation business,
source https://therealdeal.com/2020/05/01/buyer-of-realogys-relo-business-feared-broker-was-close-to-insolvency-lawsuit/
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