Vinci: finalises acquisition of 51% of LFP.
(CercleFinance.com) - Vinci Airports has announced that, via its Portuguese subsidiary ANA, it has finalised the acquisition of 51% of Lojas Francas Portugal (LFP), the Portuguese leader in airport boutiques, with TAG GER, subsidiary of the national airline TAP.
LFP currently operates 31 boutiques, representing about 7,500 m², in 7 of Portugal's 10 airports managed by Vinci Airports, including Lisbon. The company employs around 500 staff, with its total revenues reaching around 200 million euros in 2016.
This transaction will enable Vinci Airports to strengthen its expertise in airport "retail". In 2016, revenues from aviation-related businesses, including airport "retail", represented 25% of Vinci's consolidated revenue.
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LFP currently operates 31 boutiques, representing about 7,500 m², in 7 of Portugal's 10 airports managed by Vinci Airports, including Lisbon. The company employs around 500 staff, with its total revenues reaching around 200 million euros in 2016.
This transaction will enable Vinci Airports to strengthen its expertise in airport "retail". In 2016, revenues from aviation-related businesses, including airport "retail", represented 25% of Vinci's consolidated revenue.
Copyright (c) 2017 CercleFinance.com. All rights reserved.