BC Partners and Cinven set to acquire Amadeus

Amadeus has confirmed that the joint E4.3bn bid by Cinven and BC Partners for the Spanish technology provider has been successful. The deal will be the largest ever private equity transaction in Spain and one of the largest in Europe. Amadeus said in a statement: 'The reference shareholders of Amadeus, Air France, Lufthansa and Iberia, have informed the company of their selection of the proposal from BC Partners and Cinven to launch, together with them, a public tender offer over 100% of Amadeus shares at a price of €7.35 per share, with the final objective of delisting the company from the stock market.' Reports also suggest that the three main shareholders Air France (23.36%), Iberia (18.28%) and Lufthansa (5.05%) may take up to a 40% stake in the new company. Five banks have reportedly agreed to provide the 70% of debt required to finance the deal. The five banks providing the debt are JP Morgan, CSFB, Merrill Lynch, Bank of Scotland and Barclays.

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