Amadeus share price falls after 10% disposal

6th July 2011, Comments 0 comments

The share price for travel technology giant Amadeus plunged after Goldman Sachs and Morgan Stanley said on Wednesday they had sold a nearly 10-percent stake in the company for 569.9 million euros ($818.2 million).

Amadeus is also a leading provider of online air ticket reservations.

The price of the shares on the Madrid stock exchange slipped 1.38 percent to 13.945 euros, on a falling market.

The two investment banks, mandated by investors including funds Cinven and BC Partners, said they had sold 41 million shares representing 9.16 percent of shares in Amadeus.

The sale price was set at 13.9 euros per share, less than Tuesday's closing price of 14.4 euros.

Goldman Sachs and Morgan Stanley had carried out a similar operation in April, seling 10 percent of the company for 613.2 million euros.

© 2011 AFP

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