Imperial Tobacco said Monday that it has agreed to sell its 49.95-per-cent stake in airport duty free retailer Aldeasa to Autogrill Espana for Euro 275 million (USD 423 million).
The sale follows Imperial Tobacco's acquisition of Altadis, which had run Aldeasa as a joint venture with Autogrill since 2005. Autogrill, a foodservice operator focused on roadside rest areas, airports, and train stations, now becomes the sole owner of Aldeasa as it already owns the remaining shares of Aldeasa.
Imperial Tobacco said it expects the deal to be completed by May. (pi)
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