Permira and AXA P.E. circle private equity-backed Opodo

Amadeus, which is owned by Cinven and BC Partners, has launched an auction for the business, with first-round bids due in by mid-November.

The company, which hired JP Morgan Chase & Co in September to advise it on an exit, sent out information about Opodo to interested parties last week.

The sale of the firm - which reported revenues of €53.7m in the first half of 2010 - is expected to raise between €400-500m. It is said to be driven by the relatively insignificant contribution of the unit to Amadeus' overall revenues, of which it represents just 4%.

Internet search company Google and online travel firm Expedia are also believed to be considering a purchase.

Last month, Cinven, BC Partners and airline Iberia raised €617.13m from selling a 10.21% stake in Amadeus via an IPO at €13.50 per share.

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

• Topics
• Southern Europe
• Consumer
• Buyouts
• Permira
• Axa Private Equity
• BC Partners
• Cinven