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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 ($616.2 million) in a move to create Europe's top Internet booking service.Amadeus said in a regulatory filing it stood to make around 500 million euros from the transaction, including commercial agreements, and that it expected to book capital gains of 275 million, before tax. Opodo competes with U.S. rivals Expedia Inc (EXPE.O), Priceline.Com Inc (PCLN.O) and Orbitz Worldwide Inc (OWW.N).

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