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| NUANCE EXPANDS INTO MALTA |
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| Zurich, November 24, 2005 – In a joint venture with two Maltese partners, The Nuance Group has acquired the Maltese airport retailer “Air Supplies & Catering Company Ltd.”, which currently operates two duty-free shops at Malta International Airport. The concession is valid until the end of 2014, with an extension granted to 2017. |
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The Nuance Group and local partners Airport Investments Ltd and M. Demajo (Holdings) Ltd have today signed an agreement for the purchase of the Maltese duty-free operator “Air Supplies & Catering Company Ltd.”. Nuance is the majority shareholder, with the two Maltese partners equally dividing the remainder of the shares between them. Under the new ownership, the company will be called The Nuance Group (Malta) Ltd.
Nuance Malta will be operating two shops at Malta International Airport, the main departure shop as well as an arrival shop. One additional departure shop is scheduled to be constructed in the near future. The product categories sold in departures are perfumes, tobacco and liquor; the arrival shop offers all categories. The company employs 61 staff. Nuance Malta will take over the operation with immediate effect.
Carlo Bernasconi, CEO Europe for The Nuance Group, declares: “We are delighted about this partnership with two well-established Maltese companies. Together, we are perfectly positioned to successfully operate the retail concessions at Malta International Airport. By establishing a strategically important foothold on its southernmost borders, Nuance is further strengthening its position in Europe. We look forward to offering our customers a truly exciting retail experience by combining the best of international brands with authentic local offers.”
The Nuance Group – The Nuance Group is the world’s largest travel retailer, operating 320 shops at 56 airports in 16 countries and providing 4,700 full-time jobs (for 5,300 employees). The company is jointly owned by the Italian shareholders GECOS/Gruppo PAM (www.gruppopam.it) and Stefanel (www.stefanel.it).
Airport Investments Ltd – belongs to the Bianchi Group of Companies, a private, family-owned and controlled company which has diversified into many different areas and activities both in Malta and abroad. Airport Investments Ltd acquires, transfers, assigns, grants rights over, holds, develops, manages and administers movable or immovable property including shares, equity, stock, debentures or other patrimonial interests in Malta Airport and other companies.
The M. Demajo Group / Demajo Holdings Ltd – belongs to the M. Demajo Group of Companies, a private, family-owned and controlled company which has diversified into many different areas and activities in Malta and abroad. The Group is active in manufacturing, industrial services, contracting, technology transfer, tourism & leisure services and in retail/wholesale services.
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