GREECE. Hellenic Duty Free Shops has completed the acquisition of The Nuance Group (Hellas).
The acquisition, announced subject to regulatory approval on 26 April has been given the pertinent approval of the Hellenic Competition Committee.
The agreement was signed on Thursday and the acquisition completed for €1,172,000. The Nuance Group (Hellas) operates four retail outlets selling clothing and accessories at Athens International Airport.
The concession for these operations has recently been renewed and is now valid until the end of 2009.
Nuance had been keen to exit Greece as it believed it lacked critical mass there since the Olympic Games concluded (when it ran several stores).
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