EU Clears Axa, Permira Online Travel Agency Venture
May 30 2011 - 11:05AM
Dow Jones News
The European Commission approved Monday the creation of a joint
venture between France's Axa and private equity firm Permira which
will concentrate their existing online travel agencies.
AXA PE, a private equity firm that belongs to the AXA Group
(CS.FR), currently controls GO Voyages. Permira controls eDreams.
Together they will acquire Opodo and will create a joint venture to
which they will contribute Go Voyages and eDreams. Opodo is
currently owned by Spanish travel technology provider Amadeus.
The Commission found there would continue to be sufficient
competition within the European Union, including from the likes of
Air France-KLM S.A. (AF.FR) and Ryanair Holdings PLC (RYAAY).
-By Laurence Norman, Dow Jones Newswires; 32-2741-1481;
laurence.norman@dowjones.com
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