GulfMerger advises KASP on 65% sale of Amadeus Kuwait to Amadeus IT Group

GulfMerger acted as sell-side financial adviser to Kuwait Application Service Provider Company.

Madrid-based Amadeus IT Group is the world's leading provider of global reservation systems to the travel industry. Travel agencies and airlines sales offices across the world use its world-data network and databases of travel information to make bookings with airlines, hotel chains, car rental companies. Amadeus IT Group was recently acquired in 2005 by a group led by Air France, Iberia, and Lufthansa as well as private equity firms Cinven and BC Partners.

Based in Kuwait, Amadeus Kuwait WLL markets and distributes to travel agencies proprietary IT solutions developed by Amadeus IT Group to manage airline, train, cruise ship, rental car, hotel and travel bookings. Amadeus Kuwait was established in 2003 as a joint-venture between Amadeus IT Group and Kuwait Application Service Provider Company, a leading information technology company in Kuwait.

Speaking on behalf of KASP, Suhail Homsi said:

"Our partnership with Amadeus IT in the last five years was a highly rewarding experience both industry wise as well as financially. The sale value represented an attractive return on investment for KASP shareholders."

Yann Pavie, GulfMerger's CEO and founder, said, "The sale of Amadeus Kuwait to Amadeus IT Group represents another landmark transaction for the Kuwaiti market in which a leading global company was involved in the transaction."

GulfMerger played a critical role in advising Kuwait Application Service Provider Company on valuation, deal structuring, as well as negotiation of the deal agreements.

"GulfMerger has clearly risen to become the leading advisory firm on M&A deals in Kuwait with a strong global dimension to them. We continue to demonstrate clear capabilities to close deals on behalf of or opposite global companies, creating strategic partnerships that add value to all sides," added Pavie.

GulfMerger recently advised on the sale of a 51% equity interest in Hilal Cement to Italcementi, one of the world's five largest cement groups. Subsequently to the Hilal Cement deal, GulfMerger advised Italcementi on a number of readymix acquisitions in Kuwait, positioning Hilal Cement as the leading readymix company in the country.

Established in 2007, GulfMerger is an independent financial advisory firm, principally focused on middle-market mergers, acquisitions, and strategic partnerships in the Middle East. GulfMerger was named 'Best M&A House in Kuwait' by Euromoney in 2008.