Travel technology giant Amadeus will be a publicly listed company once again by the end of April as details of its long awaited IPO are released.
Bar any last minutes changes along the way, such as Travelport's sudden reverse in February this year, Amadeus is due to list on the Madrid, Barcelona, Bilbao and Valencia exchanges from 29 April 2010.
It is hoped the main tranche will raise Euro 910 million ($1.24 billion) to pay off company debts.
A second element, comprising of 35 million shares, will be sold by Amadelux Investments - the existing controlling arm created by investors Cinven and BC Partners - and two of the three airlines still involved, Lufthansa and Air France-KLM.
Amadeus expects the IPO to value the company between Euro 4.3 billion and Euro 5.4 billion.
President and chief executive David Jones, who is standing down in January 2011, says:
“Amadeus is a diverse, robust and resilient travel transaction processing and technology solutions business, and we are the clear global leader in our marketplace.
"We have a track record of delivering profitable growth and have a sound strategy to continue our development into the future. The IPO represents an important and exciting milestone for Amadeus and will enhance our ability to invest in the business and drive competitive advantage.”
President and chief executive David Jones,
who is standing down in January 2011, says:
“Amadeus is a diverse, robust and resilient travel transaction processing and technology solutions business, and we are the clear global leader in our marketplace.
"We have a track record of delivering profitable growth and have a sound strategy to continue our development into the future. The IPO represents an important and exciting milestone for Amadeus and will enhance our ability to invest in the business and drive competitive advantage.”
The third airline investor, Iberia, has declined not to participate in the secondary tranche, a not unsurprising move given it is currently negotiating its merger with British Airways.
All three airlines and Amadelux will be locked in for 180 days after the listing date.
Amadeus was taken off the public markets in 2007 when Cinven and BC Partners invested in the company. It was previously also listed in Spain.
The IPO has been mooted since October 2009, although it wasn't until March this year that officials confirmed its intention.
Since then IPOs have been the talk of the GDS world, with Travelport's ill-fated plan and even Sabre stating it was considering a move back to the public markets.