AXA and Permira Buy Travel Site Opodo

European buyout firms AXA Private Equity and Permira will pay 500 million euros ($682.4 million) to buy travel website Opodo from Spainish company Amadeus, Reuters reported, citing an article in the French daily Les Echos. Paris-based AXA Private Equity manages and advises on roughly $25 billion in assets.

(Reuters) – AXA Private Equity and Permira [PERM.UL] will on Wednesday agree to buy travel website Opodo from Spain’s Amadeus for under 500 million euros ($682.4 million), French daily Les Echos reported, citing unnamed sources.

The acquisition will serve as the building block for a merger of Opodo with Go Voyages and eDreams, two online travel brands owned respectively by AXA and Permira, Les Echos said.

A spokeswoman for AXA Private Equity declined to comment. (Reporting by Lionel Laurent) ($1=.7327 Euro)