* Liberty's 22 pct stake in TripAdvisor valued at $2.65 bln
* New company to include Liberty's ownership of BuySeasons
* To offer A shares valued at up to $3.07 bln
(Adds details, background)
May 6 John Malone's Liberty Interactive Corp
filed with regulators to spin off its stake in travel
website TripAdvisor Inc and ownership of online
retailer BuySeasons into a separate company valued at about $3
The new company, Liberty TripAdvisor Holdings Inc, will hold
Liberty Interactive's 22 percent stake in TripAdvisor and 100
percent ownership of BuySeasons.
Liberty TripAdvisor will offer 72.6 million series A common
shares valued at up to $3.07 billion and also offer 2.9 million
series B common shares, Liberty Interactive said in a regulatory
filing on Tuesday. (r.reuters.com/xux98v)
Malone, who is also the chairman of Liberty Media Corp
and is known as the "King of Cable", is expected to own
29 percent of the voting shares in Liberty TripAdvisor.
Liberty TripAdvisor expects to list the A and B shares on
the Nasdaq under the symbols "LTRPA" and "LTRPB".
Greg Maffei, currently chief executive of Liberty
Interactive, will also head the new company.
Liberty Interactive announced the spin off in October, the
same day it said it would split Liberty Interactive Corp into
two new tracking stocks - QVC Group and Liberty Digital
The company took control of TripAdvisor from veteran media
mogul Barry Diller in 2012 and has a 57 percent voting interest
in the online travel website.
Liberty Interactive's stake in TripAdvisor is valued at
$2.65 billion based on the stock's Monday's closing price of
$84.71 on the Nasdaq.
BuySeasons operates BuyCostumes.com, which sells costumes,
accessories, seasonal decor and party supplies.
The new company is expected to have cash and cash
equivalents of $50 million and debt of $400 million, Liberty
TripAdvisor will report first-quarter results later on
(Reporting by Mridhula Raghavan in Bangalore; Editing by Sriraj