Amadeus about to announce the sale of Karavel
September 26, 2007 | Online Travel
French industry rumours confirm the imminent sale of the French online tour operator Karavel. After months of speculation, the spin off is likely to be announced during the French Travel Trade Fair "TopResa" starting today.
The buyer of the company is likely to be Barclays Private Equity, and the amount of the transaction will be close to 100 million Euros financed via a Leverage Buy Out. Amadeus largely recovers its initial investment, when it acquired Karavel beginning of 2005 for 60 million Euros with the aim to integrate it into their online travel group Opodo.
The initial plans for an international expansion of Karavel’s touroperator production under the Opodo umbrella failed to materialize, due to the complexity and strong differences of the tour operatoring business between markets within Europe.
Barclays Private Equity doesn’t own any online or offline travel company yet, but they seem to have some cash piles to spend after closing its 3d fundraising 2 weeks ago with 2.4 billion Euros.
Get the full story at onlinetravelcrunch
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