IPO rumours for PE-backed OdigeO

The firms are in talks with banks regarding a potential IPO next year, Reuters reported on Tuesday. However, a source close to the situation played down the importance of the talks, adding that no bankers have been appointed yet and that OdigeO's backers have no firm plans to exit the business at this time.

Both AXA PE and Permira declined to comment.

OdigeO was set up last year to regroup travel agencies Go Voyages, eDreams and Opodo. Permira acquired a significant majority stake in Spanish online travel agent eDreams from TA Associates in 2010 – the deal was valued at more than €250m. AXA PE bought French online travel agent Go Voyages in 2010 as well, for an enterprise valuation of around €400m. Opodo was acquired from its parent company Amadeus in March 2011, a deal valued at €450m.

Barcelona-based OdigeO is understood to have enjoyed gross bookings of €3.9bn in 2011, a 14% increase on 2010 figures.

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