European online travel agency Opodo has finally been sold by Amadeus today in a deal worth Euro 450 million to AXA Private Equity and Permira Funds.
The sale ends a nine month search for a buyer (although only officially since October 2010) after Amadeus confirmed it was considering its options for the business and no longer considered Opodo a strategic asset.
Amadeus says in a statement:
“At the time of closure of the transaction and after the implementation of the commercial agreements it is estimated that the net sum to be received by Amadeus including the costs of the operation, adjusting for the cash reserves and working capital position of Opodo, will be a total sum of approximately Euro 500 million.”
Read the full story at: http://www.tnooz.com/2011/02/09/news/amadeus-sells-opodo-for-euro-450m-to-axa-and-permira/