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Amadeus sells Opodo

Amadeus IT Holding, S.A., through its subsidiary Amadeus IT Group S.A. and subject to the approval of its Board of Directors, has reached an agreement with AXA Private Equity and Permira Funds, for the sale of 100% of the capital of its subsidiary OPODO LIMITED ('Opodo'). The enterprise value agreed by the parties reaches approximately 450 million Euros. This value represents a multiple of 11.7x the 'EBITDA' (earnings before interest, tax, depreciation and amortisation) of Opodo in the 2010 period.

Madrid, Spain, 09 February 2011: Amadeus IT Holding, S.A., through its subsidiary Amadeus IT Group S.A. and subject to the approval of its Board of Directors, has reached an agreement with AXA Private Equity and Permira Funds, for the sale of 100% of the capital of its subsidiary OPODO LIMITED ("Opodo"). The enterprise value agreed by the parties reaches approximately 450 million Euros. This value represents a multiple of 11.7x the 'EBITDA’ (earnings before interest, tax, depreciation and amortisation) of Opodo in the 2010 period.

The agreement includes, as part of the transaction, a 10-year commercial agreement between Amadeus, as a provider of GDS services, and Opodo, eDreams and GoVoyages (these two last online travel agencies ultimately controlled by the Permira Funds and funds managed by AXA Private Equity, respectively).

At the time of closure of the transaction and after the implementation of the commercial agreements it is estimated that the net sum to be received by Amadeus including the costs of the operation, adjusting for the cash reserves and working capital position of Opodo, will be a total sum of approximately 500 million Euros.

The agreement is subject to the approval of the competition authorities.

JP Morgan acted as Amadeus’ financial adviser for this transaction.

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Notes to the editors

Amadeus is a leading transaction processor and provider of advanced technology solutions for the global travel and tourism industry.

Customer groups include travel providers (e.g airlines, hotels, rail, car rental, ferries, etc.), travel sellers (travel agencies and websites), and travel buyers (corporations and individual travellers).

The group operates a transaction-based business model and processed more than 670 million billable travel transactions in 2009.

Amadeus has central sites in Madrid (corporate headquarters and marketing), Nice (development) and Erding (operations – data processing centre) and regional offices in Miami, Buenos Aires, Bangkok and Dubai. At a market level, Amadeus maintains customer operations through 72 local Amadeus Commercial Organisations covering 195 countries.

Amadeus is listed on the Madrid, Barcelona, Bilbao and Valencia stock exchanges and trades under the symbol “AMS.MC”. For the year ended 31 December 2009, the company reported revenues of EUR 2,461 million and EBITDA of EUR 894 million. The Amadeus group employs over 10,100 employees worldwide, with 123 nationalities represented at the central offices.

To find out more about Amadeus please visit www.amadeus.com.

To visit the Amadeus Investor Relations centre please visit www.investors.amadeus.com.


Contact details

Amadeus
Corporate Communication
tel: +34 91 582 0160
fax : +34 91 582 0188
e-mails : mediarelations@amadeus.com