Amadeus Selling Opodo

Amadeus Selling Opodo

Amadeus IT Holding is reportedly seeking a buyer for its European online travel agency Opodo. According to Reuters, JPMorgan has been hired as an adviser and a deal could be announced before year-end.

Opodo, which is 99.4 percent owned by Amadeus, operates in nine countries. As per the information available, its first-half earnings before interest, taxes, depreciation and amortization (EBITDA) rose 34 percent to €17.2 million on revenues of €53.7 million.

For the sector, the development follows two private equity purchases of European travel agencies earlier this year: TA Associates sold Barcelona-based eDreams to Permira PERM.UL, and AXA Private Equity took a majority stake in French group Go Voyages.

The same report by Reuters also mentioned that Morgan Stanley analysts estimate Opodo will make €31 million of EBITDA this year, on revenues of €104 million, and will grow revenues at an annual rate of 6.7 percent between 2009 and 2012.