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Wyndham selling holiday rentals biz for $1.3 billion

Platinum Equity Partners has agreed to acquire the European vacation rentals business of Wyndham Worldwide for around $1.3 billion.

Why it's a big deal: Because this is about a broader break-up plan for Wyndham, which wants to split into a pair of publicly-traded companies: One focused on hotels and one focused on timeshares. The holiday rentals business didn't really fit into either.