The American group CENDANT, owner of the car rentals firm AVIS INC and several hotel chains, has sealed the purchase of the electronic travel reservation firm GALILEO ($1.64 bn turnover in 2000) for $2.9 bn in cash and shares. CENDANT will pay the equivalent of $33 per GALILEO share, 80.5% of which in CENDANT shares and the remainder in cash. CENDANT will, moreover, assume $600 million in debts.