Four private equity firms to bid for Amadeus

City Group Venture Capital, BC Partners, Cinven and Carlyle Group (possibly together with CVC Europe), have been shortlisted in the auction for the global travel distribution system Amadeus, the main shareholders of which are Iberia, Air France and Lufthansa. Offers put forward by Texas Pacific, Bain Capital, Permira and Apax were rejected. The total value of the deal is expected to reach E4bn, and if successful, it will constitute the largest private equity buyout in Spain. Of the two UK firms, Cinven, will be advised by JP Morgan, while BC Partners, believed to be favoured by Air France, is being advised by Morgan Stanley. Carlyle, however, is the only firm with a presence in Spain and has chosen the Spanish banks, BBVA and Caja Madrid, to act as advisors. CVC, advised by Goldman Sachs, is already a shareholder in Worldspan, one of the main competitors of Amadeus.

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• Southern Europe