Aéroports de Paris and Aelia announced plans to merge Duty Free Paris and Société de Distribution Aéroport. Under the merger, Aelia will acquire shares owned by The Nuance Group in Duty Free Paris, which is a 50:50 JV between Nuance and Aéroports de Paris.
When completed, Aéroports de Paris and Aelia will jointly own the companies, Duty Free Paris and Société de Distribution Aéroport, both of which operate airport retail outlets. The two companies will be merged under the Société de Distribution Aéroportuaire brand and operate 115 outlets across all Paris Charles de Gaulle and Paris Orly terminals, including 70 dedicated to core business and 45 dedicated to fashion and accessories.
In duty free and airport retail shares, DO & CO shares gained 1.3% while most other stocks closed lower.
Selected duty free and airport retail share price movements (% change): 11-Apr-2011