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Permira, Ardian plan IPO for European online travel giant Odigeo

15 Jan 2014

plane_lrgPrivate equity majors Permira and Ardian are reportedly considering an IPO for Europe’s largest online travel group 12 months after placing €325m of bonds in a bid to refinance its senior debt.

The public listing could value Barcelona-headquartered Odigeo at up to €1.5bn according to the FT, which cited sources with knowledge of the matter.

AXA and Permira bought online travel agent Opodo in 2011 from Amadeus for €450m through portfolio companies Go Voyages and eDreams, with they later merged to create Odigeo.

Reports in September 2012 said AXA and Permira were considering an IPO for the business in a listing that would give it a similar valuation.

The private equity firms were also understood to have held discussions with banks over a potential IPO last year.

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