Amadeus announced its planned listing on the Madrid Stock Exchange will be launched on 29-Apr-2010, priced between EUR9.20 and EUR12.20 per share (Market Pulse, 14-Apr-2010). The company is seeking to raise EUR910 million through the sale of 85 million shares to reduce debt. The offer is valued at between EUR4.3 billion and EUR5.4 billion. A secondary offering of 35.3 million shares will be sold by Amadelux Investments and airline shareholders, Lufthansa and Air France, which could raise up to EUR430.3 million. Amadeus management will offer an additional 1.69 million shares. The total offering would reportedly cover 25% of the capital of Amadeus, of which 10% would come from a new share issue and 15% through the sale of existing shares. Amadeus is controlled by BC Partners and Cinven with a combined 53%, while Air France has 23.14%, and Iberia and Lufthansa each hold 11.6% stakes. Amadeus, with revenues of EUR2.46 billion in 2009, was delisted four years ago when BC Partners and Cinven acquired their stake from the three airlines. Iberia reportedly stated it has no plans to sell its stake in Amadeus under the planned relisting.
15-Apr-2010 9:50 AM