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Going Places: The Buy-out of Amadeus Global Travel Distribution

By Michael Prahl,  Nikhil Malik
Published 26 May 2015
Reference 6106
Topic Entrepreneurship
Industry Private Equity,  Airlines/Aviation,  Leisure, Travel and Tourism
Region Europe
Length 13 page(s)
Language English
Inspection copy
Teaching note
6.00
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Summary

In 2004, BC Partners is considering an investment in Amadeus, a major IT player in the global airlines and travel industry. In order to win in a very competitive auction BC Partners needs to evaluate two distinct business strategies as to their risk-return profile and impact on financing structure.

Teaching objectives

To evaluate different strategic options in an investment target and how they impact bidding structure and drive returns later on. Discuss how PE firms can position themselves in a competitive M&A process.

Keywords
  • Buyout
  • Travel industry
  • Repositioning
  • Delisting
  • LBO
  • Airlines
  • Take Private
  • Leverage
  • Q31415
  • Corporate Governance
  • Value Creation, Strategy and Implementation
  • GPEI
  • GPEI-Case
About the authors
Prahl

Michael Prahl

Nikhil Malik


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