VINCI Airports finalised the acquisition of 51% of the share capital of Lojas Francas Portigal (LFP), Portuguese airport leader, from TAP GER, subsidiary of the national airline company, TAP.
LFP currently operates 31 retail outlets with a total area of around 7,500 sqm in seven of the ten Portuguese airports managed by VINCI Airports. The company employs around 500 people and generated revenue of approximately EUR 200 million in 2016. The remaining 49% of LFP capital is held by Dufry Group, world leader in airport retail.
This operation allows VINCI Airports to strengthen its expertise in airport retail.
CASE Corporate Finance acted as sole financial adviser to VINCI Airports.