IDI: sale of stake in CDS Group

(CercleFinance.com) - IDI announced on Monday that it had sold its stake in the CDS group, a digital platform for managing the hotel reservation chain for business travel, less than five years after acquiring a stake in the company.


In a press release, the investment company states that the transaction enabled it to materialize a net investment multiple of 6.5x for a net internal rate of return (IRR) of around 46%.

In a press release, IDI's Marco de Alfaro and Jonathan Coll hail the impressive track record achieved by the CDS Group in recent years.

The company currently employs some 450 people in six European countries (France, Germany, Italy, Poland, Croatia and Romania) and operates four brands (CDS, CRC, Goelett and SIAP).

Its annual volume of hotel bookings now stands at 800 million euros.

Following this transaction, IDI plans to reinvest in the company as a minority shareholder, as part of a capital reorganization around founder and CEO Ziad Minkara.

The latter will rely on Andera Acto, a subsidiary of unlisted investment specialist Andrea Partners.

"We are delighted to renew our confidence in Ziad and his teams, and look forward to participating in the next phase of this ambitious adventure in France and internationally", added IDI's Marco de Alfaro and Jonathan Coll.

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