Amadeus IPO may net Air France over $340 mln-paper

PARIS, April 13 (BestGrowthStock) – The planned listing of travel
reservations firm Amadeus at the end of the month could fetch
Air France-KLM (AIRF.PA: ) over 250 million euros ($340 million),
French daily Les Echos reports on Tuesday.

“According to our information it (Amadeus) aims to return on
the Madrid stock market…if possible from April 29,” the paper
said.

Les Echos, which did not cite a specific source, said
Spanish regulatory authorities were expected to hold a meeting
on Wednesday in Madrid to finalise the offer documents.

Air France-KLM declined to comment.

“Using an estimated global valuation of 6.7-8.0 billion
euros for Amadeus, Air France-KLM could get between 234.5
million and 280 million euros in cash,” the paper said.

The total offering would cover 25 percent of the capital of
Amadeus, of which 10 percent would come from a new share issue
and 15 percent through the sale of existing shares.

Amadeus is controlled by BC Partners [BCPRT.UL] and Cinven
[CINV.UL] with a combined 53 percent, while Air France (AIRF.PA: )
has 23.14 percent, and Iberia (IBLA.MC: ) and Lufthansa (LHAG.DE: )
have 11.6 percent each.

Amadeus, with 2.46 billion euros of revenues in 2009, was
delisted four years ago when BC Partners and Cinven bought their
stake from the three airlines.

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($1=.7355 Euro)
(Reporting by Dominique Vidalon; Editing by Louise Heavens)

Amadeus IPO may net Air France over $340 mln-paper