Amadeus drops on share sales – Suppliers Share Wrap
- Amadeus repurchased 10.2% of its shares from private equity firms BC Partners and Civen, as well as Iberia, for EUR617 million.
- The repurchase caused a 2.9% decrease in Amadeus' shares by the end of trading.
- BC Partners and Cinven led the acquisition of Amadeus in 2005, buying the firm for EUR4.34 billion and delisting it.
- Amadeus conducted an IPO in 2010, listing 31.9% of its shares and gaining almost 25% over the IPO closing price.
- BC Partners and Civen sold 19.5 million shares at EUR13.50 per share, reducing their stakes to 13%.
- Air France is now the largest shareholder of Amadeus with a 15.2% stake, while Lufthansa holds a 7.6% stake.
BC Partners and Cinven led the acquisition of in 2005, buying the firm for EUR4.34 billion and delisting it. Amadeus conducted an IPO on the Madrid Stock Exchange in May-2010, listing 31.9% of its shares, with both Air France and Lufthansa reducing their holdings. Amadeus shares have gained almost 25% over the IPO closing price of EUR11 per share.
Both BC Partners and Civen sold 19.5 million shares at EUR13.50 a share, reducing their respective stakes to 13% (down from 17.4%). Iberia sold 1.5% at the same price, cutting its stake in the company to 7.5%.
Air France is now the company's largest shareholder (at 15.2%). Lufthansa holds a 7.6% stake in the company.
Selected Original Equipment Manufacturers daily share price movements (% change): 08-Oct-2010
Selected Aviation Suppliers & Leasing daily share price movements (% change): 08-Oct-2010