Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS) said Tuesday they have begun placing up to 41 million shares in Spain-based Amadeus IT Holdings SA (AMS.MC) with institutional investors.

In a regulatory filing, the two investment banks said the package, which equals 9.2% of Amadeus's outstanding shares, will be sold through an accelerated book-building process--a quick issue of equity with little or no marketing. They didn't say which shareholder or shareholders are selling.

Information technology company Amadeus's shares closed Tuesday at EUR14.14 each, valuing the package sold at EUR580 million.

The two banks said the exact number of shares sold and final price of the placement would be communicated once the book-building has finished.

The company's main shareholders include private equity firms Cinven and BC Partners and airlines Air France-KLM (AF.FR), International Consolidated Airlines Group SA (IAG.MC) and Deutsche Lufthansa AG (LHA.XE).

-By Christopher Bjork, Dow Jones Newswires; +34913958123; christopher.bjork@dowjones.com

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