Buyout firms Permira and Axa Private Equity are set to sign deal to buy Opodo, the online travel unit being sold by Amadeus IT Holding SA (AMS.MC) Wednesday, a person familiar with the situation told Dow Jones Tuesday.

The buyout firms are paying between EUR400 million and EUR500 million, the person added. The two private equity firms submitted a joint bid through Spanish travel agent eDreams, which Permira bought last July, and Go Voyages, a French online agent Axa bought last May.

Other bidders in the auction, which is being handled by JPMorgan Chase (JPM), included U.S. buyout firm Carlyle Group.

Opodo is the smallest of Amadeus' three businesses, representing just 4% of its total revenue, and isn't considered central to the company.

Opodo's revenue--mostly from airline ticket fees--was EUR53.7 million in the first half of 2010, up 5.8% from a year earlier. Its main markets are Germany, France, the Nordic countries and the U.K.

Amadeus' other units comprise Global Distribution Services, which produces some 70% of the company's revenue; and Altea, a reservation platform, which is used by other airlines wanting to outsource business, represents around 25% of revenue.

-By Marietta Cauchi, Dow Jones Newswires; +44 207 842 9241; marietta.cauchi@dowjones.com
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