Private equity-backed travel agent Odigeo eyes €50m IPO


barcelona-2_sqPrivate equity-backed online travel business eDreams Odigeo is preparing for an IPO in Spain.

The Barcelona-based group, which is owned by private equity firms Permira and Ardian, is aiming to raise €50m via the IPO.

The share sale will be managed by JP Morgan and Deutsche Bank.

Odigeo reported revenues of €4.15bn for the fiscal year to the end of March.

Earlier reports said the company planned to raise €350m via an IPO, which would value it at around €1.5bn with debts of €300m.

Permira and Ardian bought the business  in 2011 from Amadeus for €450m through portfolio companies Go Voyages and eDreams, with they later merged to create Odigeo.

Last year the company placed €325m of bonds in a bid to refinance its senior debt.

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