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Wednesday, February 9, 2011

Axa, Permira buy Opodo for 450 mln euros, (AMA), (NASDAQ: EXPE), (NASDAQ: PCLN), (NYSE: OWW)

Private equity groups Permira and Axa have bought online travel agent Opodo from Spain's Amadeus (AMA.MC) for 450 million euros in a move to create Europe's top Internet booking service.Amadeus said it stood to make around 500 million euros from the transaction, including commercial agreements. Opodo competes with U.S. rivals such as Expedia Inc (EXPE.O), Priceline.Com Inc (PCLN.O) and Orbitz Worldwide Inc (OWW.N).

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