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Amadeus Moves Towards Listing on Madrid's Stock Market

October 19, 2009 By: Jena Tesse Fox

Spanish-based GDS company Amadeus is moving towards a stock-market listing in Madrid, potentially one of Spain’s largest ever. The company, controlled by private-equity firms BC Partners and Cinven Group Ltd. has hired Goldman Sachs Group, JP Morgan Chase and Morgan Stanley as global coordinators. Amadeus is already working with Rothschild as an independent adviser.

According to the sources further group of banks including Bank of America Merrill Lynch, HSBC, BNP, Paribas, and Santander are likely to help syndicate the equity as lead managers.

Air France has 23.14 percent of Amadeus and Iberia and Lufthansa both have 11.57 percent each. Amadeus was delisted four years ago when BC Partners and Cinven bought their stake from the three airlines.

The company's revenue was up 2.2 percent from a year earlier. Its travel bookings fell 2.1 percent in the period, hurt by a slump in travel due to the global financial crisis. This trend continued into this year, with bookings down 9.1 percent on the year in the first quarter, according to Amadeus’s last financial statement.

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