MADRID (Reuters) – Travel reservations firm Amadeus said it was pushing ahead with an inital public offering in the first half to raise 910 million euros ($1.23 billion) and end a two-year IPO drought in Spain.
Existing shareholders will also tender a chunk of their shares to comprise a total offering representing a minimum of 25 percent of the company’s capital.
Amadeus is controlled by BC Partners [BCPRT.UL] and Cinven [CINV.UL] with a combined 52.8 percent, while Air France (AIRF.PA) has 23.1 percent, and Iberia (IBLA.MC) and Lufthansa (LHAG.DE) have 11.6 percent each.
The planned IPO follows a raft of failed listings across Europe, including airline ticketing rival Travelport which called off a $1.8 billion London listing last month.
Amadeus, with 2.46 billion euros of revenues in 2009, was delisted four years ago when BC Partners and Cinven bought their stake from the three airlines.
The company hired Goldman Sachs, JP Morgan and Morgan Stanley as global bookrunners for the IPO last year.
(Reporting by Tracy Rucinski; Editing by Jonathan Gleave and Dan Lalor) ($1 = 0.7401 euro)