Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Permira’s EDreams Odigeo Announces IPO Plan for Madrid Listing

EDreams Odigeo, a Spanish online travel agency, announced an initial public offering in Madrid, helping end a listings drought of almost three years in the country.

EDreams Odigeo said it would sell new shares to investors and use the proceeds to redeem some senior 2019 notes issued by subsidiary Geo Travel Finance S.C.A. Odigeo is owned by Permira Advisers LLP and Ardian, the private-equity firm formerly known as AXA Private Equity which will also sell shares in the sale.

The IPO could raise about 350 million euros ($481 million) and Barcelona-based eDreams Odigeo may be valued at about 1.5 billion euros, people familiar with the matter told Bloomberg News this week. Spanish companies including Applus+, which inspects everything from cars to electronics, and cable operator Grupo Corporativo ONO SA are planning IPOs as investors return to the Iberian market on the promise of an economic recovery.

In the nine months ended December, eDreams Odigeo said it had a revenue margin of 311.9 million euros and 88.8 million euros in recurring earnings before interest, tax, depreciation and amortization, compared with a revenue margin of 268.1 million euros and 80.3 million euros of recurring Ebitda a year earlier.

The company’s “strong cash flow generation” and expected deleveraging after the IPO will give it more flexibility to look at attractive targets for acquisition, according to the statement. EDreams Odigeo had more than 14 million customers last March.

Deutsche Bank AG and JPMorgan Chase & Co. are managing the IPO, along with Jefferies Group LLC, Banco Santander SA and Societe Generale SA.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.