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SPAIN - Chequers Capital leads MBO of ADP Travel Clearing

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French buyout house Chequers Capital has acquired Travel Clearing de Automatic Data Processing from its parent company ADP alongside its management.

The transaction is believed to have a price tag of EUR 200m, with debt provided by IKB. Barcelona-based ADP Travel Clearing is active in the processing of transactions and payments associated with the issue of airline tickets sold by travel agents outside the EU. The company also offers data management, statistic-generation and electronic invoicing services.
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