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Permira, AXA To Pay €450M For Opodo

Amadeus IT Holdings is selling online travel unit, Opodo, to buyout firms, Permira and AXA Private Equity.

Amadeus IT Holdings isselling online travel unit, Opodo, to buyout firms, Permira and AXA Private Equity, The Wall Street Journal reports. The Spanish global travel and tourism transaction processor is expecting a total of €450M from the sale.

The two private equity firms submitted a joint bid through Spanish travel agent eDreams, which Permira bought last July, and GoVoyages, French online agent that AXA bought last May. The sale is being handled by JPMorgan Chase. Carlyle Group also submitted a bid for Opodo.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.

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