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Saudi Arabian Airlines to privatise catering unit

Saudi Arabian Airlines announced it intends to conduct the long-delayed IPO of its catering unit in 2Q2011 and are in the process of submitting to the capital market authority. The IPO was initially planned for 3Q2010 but the carrier is still in the process of submitting to the capital market authority for approval. Around 30% of the company will be offered in the IPO.

Shares in retail and airport catering company DO & CO rose 3.5% on Tuesday, while gategroup shares were up 0.2% and Autogrill shares were flat.

Selected Duty Free daily share price movements (% change): 22-Mar-2011