Aelia seeks to buy The Nuance Group's shares in Duty Free Paris
Travel retail and duty free operator Aelia has submitted an offer to The Nuance Group for its shares in Duty Free Paris, the joint venture company equally owned by Aéroports de Paris (AdP) and Nuance. Duty Free Paris operates at Paris-Charles de Gaulle and Paris-Orly airports.
- Aelia has submitted an offer to acquire shares in Duty Free Paris, a joint venture company owned by Aéroports de Paris and Nuance, which operates at Paris-Charles de Gaulle and Paris-Orly airports.
- Aelia, The Nuance Group, and Aéroports de Paris have a two-month exclusivity agreement to negotiate the terms of the potential acquisition.
- Dufry, a major travel retail operator, plans to open 10,000sqm of space in 2011, including new retail travel openings in Latin America, the Caribbean, Africa, and Europe.
- Dufry's announcement led to a 3.9% increase in its shares on Friday.
- The article mentions selected Duty Free daily share price movements on 26-Mar-2011, indicating a focus on market trends and performance.
- The potential acquisition and expansion plans highlight the competitive nature of the travel retail industry and the companies' strategies for growth.
Aelia, The Nuance Group and Aéroports de Paris have a two-month exclusivity agreement to negotiate the terms of a possible acquisition.
Dufry announced plans to open a further 10,000sqm of space in 2011. This will include retail travel openings in Latin America and the Caribbean, comprising Aruba, St Kitt's, Dominican Republic, Jamaica, Martinique and Brazil, in the French West Indies. New openings will also be made in Africa (Rabat) and Europe, in Itay, Russia and Serbia. Shares in Dufry climbed 3.9% on Friday.
Selected Duty Free daily share price movements (% change): 26-Mar-2011
