Cinven and BC sell 10% of Amadeus for €617m

A total of 45.7m shares have been sold at €13.5 per unit. They represent a 10.21% stake in the company, which sells marketing, distribution and IT services to the travel industry.

Cinven and BC Partners each released a 4.36% equity stake in exchange for €263m gross, retaining a 13% shareholding. Cinven will inject the proceeds - which correspond to a 3.6x money multiple - into its Third Cinven Fund.

The current share price constitutes a 26% increase since Amadeus' IPO was launched on the Spanish Stock Exchanges in April 2010.

The firms were given permission by the IPO's advisors to proceed with the sales before the end of the 180 day lock-up period.

Cinven and BC Partners first invested in the company in 2005 via a public-to-private transaction which valued the business at €4.4bn.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Southern Europe
• Technology
• BC Partners
• Cinven