SPAIN - TA Associates ready to pay EUR 100m for eDreams

According to press reports, US private equity house TA Associates is set to pay EUR 100m for 100% of the shares in Internet-based travel agency eDreams. A majority stake of 55% is currently owned by a group of 70 investors, including the bank Santander and private equity firms 3i, Apax, Net-Techonology Investment and Atlas Capital. The remaining 45% is held by the company's founder, Javier Pérez Tenessa. eDreams, created in 1999, amidst the heat of the dotcom industry, expects to receive returns of around EUR 300m this year.