Imperial to Sell Aldeasa Stake

Source from:  tr.itsmyiq.com Mar 10, 2008 03/11/2008

The Imperial Tobacco Group has said that it intends to sell for €275 million its 49.95 per cent shareholding in the Spain-based airport duty free retailer, Aldeasa S.A, to Autogrill España S.A, a subsidiary of Autogrill S.p.A. Since 2005, Aldeasa has operated as a joint venture between Autogrill and Altadis, which Imperial acquired earlier this year. Imperial expects that the transaction, which is still subject to approval from the European Commission, will be completed by May. Aldeasa generated consolidated sales of about €830 million in the year to the end of December. Enditem