Amadeus announced today that it has raised its shareholding in SAVIA Amadeus -its distributor in Spain and Portugal- from 34 to 100 per cent by acquiring Iberia’s 66 per cent stake for a consideration of EUR 82.3 million.
SAVIA Amadeus, headquartered in Madrid, is the Spanish national marketing and distribution company (NMC) for Amadeus. The company has over 93 per cent market share in Spain, which is one of Amadeus’ largest markets worldwide in terms of bookings. The Amadeus System connects more than 8,000 Spanish travel agencies, processing nearly 32 million bookings during 2004. Last year, 558 additional Spanish travel agencies connected to the Amadeus distribution network.
José Antonio Tazón, President and CEO of Amadeus, said: “As a founder market of Amadeus, Spain is one of our three main markets worldwide. Full integration of this strategic market into the Amadeus Group of companies will further consolidate and strengthen our activities in the market. In line with the transactions completed in the Scandinavian markets and Germany in 2002 and in France in 2004, the consolidation of SAVIA Amadeus’ marketing and commercial operations is a logical step for Amadeus and represents our commitment to the success of our Spanish customers.”