Wed, 24 Nov 2010 | MBO/MBI
Travel firm Opodo could be purchased in a management buyout deal after reports of discussions taking place between the directors came to light.
Chief executive Ignacio Martos, who would lead the MBO team, has met with potential lenders recently after holding a presentation of the business.
It is also understood that banks are shortly to send a notification of intent to back the buyout deal to the management.
The Spanish owner Amadeus is seeking to sell its online flights and travel agency and brought in JP Morgan in recent weeks to assess Opodo’s options, to include a sale for around £400 million.
Other interested parties may include Axa Private Equity owned Go Voyages, who has appointed Credit Suisse and HSBC to advise, Google, rival online travel firm Expedia and private equity firm Permira.
Representing only 4 per cent of Amadeus’ total turnover, Opodo is the smallest of its three businesses. Global Distribution Services brings in 70 per cent of Amadeus’ revenues, while Altea represents about 25 per cent.
Opodo’s sales are mainly derived from airline ticket fees, and totalled 53.7 million euros for the first six months of the year, an increase of 5.8 per cent from the previous year.
An opportunity exists to purchase the business and assets of a recruitment business operating in the south of England. The business specialises in both temporary and permanent candidate placement in education roles.
An opportunity exists to purchase the business and assets of a leading provider of traffic management solutions operating across the UK highways network.
An opportunity exists to purchase the business and assets of a television production company. The company has an established track record in the production of drama/ documentaries and colourised archive series.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.