Move paves the way for broader investor participation
Global investment firm Permira has sold part of its stake in European OTA eDreams Odigeo.
It placed 7.4 million ordinary shares at €7.55, representing 5.8% of the company’s share capital.
The partial sale of Permira’s stake was welcomed by eDreams, enhancing a free float of the company’s shares, paving the way for broader investor participation and enhanced liquidity.
The OTA said: “For the past 15 years Permira has been a very supportive shareholder, playing a key role in eDreams Odigeo’s growth and its transformation into a successful subscription-based business.”
The company “actively participated in the transaction by repurchasing 2.6 million shares as part of its ongoing share buyback programme.
“This initiative underscores the company’s commitment to optimising its capital structure and delivering sustainable long-term value to its shareholders.”
Chief executive Dana Dunne said: “We are very pleased with the exceptional demand and strong support from investors who share our vision for the future of eDreams Odigeo.
“This transaction broadens our shareholder base, paves the way for enhanced liquidity of our shares and clearly demonstrates our position as an attractive investment opportunity.
“The market’s enthusiasm is a testament to the value we are creating and the strength of our strategic direction.
“We are immensely grateful to Permira for their support and partnership over the last 15 years, always exceptional shareholders greatly contributing to our successful transition into a subscription-based model.”
Perira partner Benoît Vauchy said: “eDreams Odigeo is an exceptional business with significant growth potential and a world-class management team.
“We are proud to have supported the company during its transformation into a subscription-based leader and remain confident in its bright future.
“This transaction reflects the remarkable performance of eDreams Odigeo and the significant value it has delivered and continues to deliver.”
