TA Associates to sell its majority stake in eDreams

Jul 28, 2010

Private equity firm Permira is to buy a majority stake in Spanish online travel agency eDreams.

Published: 28 Jul 2010

Private equity firm Permira is to buy a majority stake in Spanish online travel agency eDreams.

According to ft.com, the deal’s worth is about €250m-€300m. The deal with Permira will generate a return of about three-times the initial investment in eDreams by TA Associates, the US private equity group that bought it for €153m in 2006 from a consortium of venture capital groups, added the report.

Javier Pérez-Tenessa, managing director, eDreams said: “We are delighted to partner with Permira, as this will allow eDreams to fully benefit from the growth opportunities in our core markets both from an organic and from an M&A point of view.”

The company offers its services in Spain, Italy, France, Portugal, Germany, UK, Australia, Brazil, Canada, Mexico, Chile, India, Peru, Venezuela, Argentina, Colombia, Switzerland, USA and the global English language markets.

The company’s growth prospects are underpinned by relatively low levels of online penetration in core markets, potential for further geographic expansion and further moves into non-flight business areas.