Investors eye up eDreams ODIGEO

Saturday, 02 Nov, 2017 0

Online travel giant, eDreams ODIGEO, is considering ‘strategic options’ including a potential merger and acquisition deal.

The company, which operates the brands eDreams, GO Voyages, Opodo, Travellink, and the metasearch engine Liligo, said the decision comes after it received ‘unsolicited indications of interest’ from potential investors and follows its ‘renewed strategic focus, operational success and strengthened financial position’.

Its Board of Directors has appointed Morgan Stanley & Co. International plc as its financial advisor for the strategic review process.

"There is no expected impact to the day-to-day running of the company and business continues as normal. The company will issue further statements as appropriate," it said in a statement.

"The review process remains at an early stage and there is therefore no certainty on the level of interest of potential investors or if any potential formal proposal will be satisfactory to the company and its shareholders."

It has also raised its short-term guidance for 2018 financial year and its long term guidance for fiscal year 2020.

Its forecast EBITDA for 2018 has been raised from the region of €113m-€117m to €116m-€120m, while for 2020 is has been raised from €125m-€140m to €130m-€145m.

It said the increase comes after it managed to get more favourable terms with a number of suppliers.

Bev

Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.

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