Axa and Permira line up joint $500m bid for Opodo

Axa Private Equity and Permira have come together to bid for Opoda in an effort to create Europe’s Largest online booking service.

The two would-be competitors are expected to confirm a joint bid on the london-based Opodo today. Axa and Permira are viewed as the most likely to aquire the €500 million company despite competition from U.S. company, Carlyle.

Axa and Permira plan to merge Opoda with their companies, Go Voyages and eDreams. This could provide a great deal more revenue for both companies.

Opodo saw its earnings before interest, tax, depreciation and amortisation rise by 46% to €28.6 million in the nine months to September last year with gross sales up by 13% to €1.19 billion.

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