CNMV approves tender offer for Amad

The board of the Spanish Securities and Exchange Commission (CNMV) has approved the takeover bid launched by WAM Acquisition SA for 100% of the share capital of Amadeus Global Travel Distribution SA. Amadeus' share capital is comprised of 590,000,000 class A shares and 171,443,700 class B shares, each of a nominal value of E0.01 and E0.1 respectively. All the class B shares and 24,298,558 Class A shares have been blocked and will be contributed by the airlines (Air France, Iberia and Lufthansa) to WAM Acquisition if the offer is successful. A total of 15,103,031 class A shares held by Amadeus as treasury stock have also been blocked. Therefore, the offer targets 550,598,411 class A shares, representing 23.89% of the company's share capital and 93.32% of class A shares. The takeover bid is conditional on acquiring at least 428,796,291 class A shares, representing 77.88% of shares targeted by the offer and 18.61% of Amadeus' share capital. The airlines have committed to accept the offer and will contribute 251,201,442 class A shares, equivalent to 45.62% of the total shares targeted by the offer and to 10.90% of AMADEUS' share capital. The price offered is 7.35 per share.

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• Southern Europe