Amadeus starts $1.24bn IPO countdown
Travel technology giant Amadeus will be a publicly listed company once again by the end of April as details of its long awaited IPO are released.
Bar any last minutes changes along the way, such as Travelport’s sudden reverse in February this year, Amadeus is due to list on the Madrid, Barcelona, Bilbao and Valencia exchanges from 29 April 2010.
It is hoped the main tranche will raise Euro 910 million ($1.24 billion) to pay off company debts.
A second element, comprising of 35 million shares, will be sold by Amadelux Investments – the existing controlling arm created by investors Cinven and BC Partners – and two of the three airlines still involved, Lufthansa and Air France-KLM.
Amadeus expects the IPO to value the company between Euro 4.3 billion and Euro 5.4 billion.
President and chief executive David Jones, who is standing down in January 2011, says:
“Amadeus is a diverse, robust and resilient travel transaction processing and technology solutions business, and we are the clear global leader in our marketplace.
“We have a track record of delivering profitable growth and have a sound strategy to continue our development into the future. The IPO represents an important and exciting milestone for Amadeus and will enhance our ability to invest in the business and drive competitive advantage.”
All three airlines and Amadelux will be locked in for 180 days after the listing date.
Amadeus was taken off the public markets in 2007 when Cinven and BC Partners invested in the company. It was previously also listed in Spain.
Since then IPOs have been the talk of the GDS world, with Travelport’s ill-fated plan and even Sabre stating it was considering a move back to the public markets.
Kevin May is a senior editor and one of the co-founders at Tnooz in 2009. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has worked in regional newspapers (Essex Enquirer) and started his career in journalism at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and publishes his first book - a biography about electronic band, Depeche Mode - in 2015.