Amadeus Sells Opodo


Amadeus announced it has reached an agreement with AXA Private Equity and Permira Funds, to sell 100 percent of the capital of its subsidiary OPODO LIMITED (Opodo). The deal, when approved, could reach approximately €500 million.

Opodo is a leading pan-European online travel site founded by nine of Europe's airlines .

The enterprise value agreed by the parties reaches approximately €450 million. This value represents a multiple of 11.7x the 'EBITDA’ (earnings before interest, tax, depreciation and amortization) of Opodo in 2010.

The agreement includes, as part of the transaction, a 10-year commercial agreement between Amadeus, as a provider of GDS services, and Opodo, eDreams and GoVoyages (these two last online travel agencies ultimately controlled by the Permira Funds and funds managed by AXA Private Equity, respectively).

The agreement is subject to the approval of the competition authorities, Amadeus said. JP Morgan acted as Amadeus’ financial adviser for this transaction.

Visit www.Amadeus.com.

 

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