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By
Reuters
Published
Dec 22, 2008
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EU clears JV between France's ADP, Swiss Nuance

By
Reuters
Published
Dec 22, 2008

BRUSSELS, Dec 22 (Reuters) - France's Aeroports de Paris (ADP.PA) and Switzerland's The Nuance Group (TNG), a retailer partly owned by Stefanel (STEP.MI), gained permission from the European Commission on Monday to form a joint venture.

The companies' aim under the joint venture is operate fashion and accessories stores in public and reserved areas at the Paris-Charles de Gaulle and Paris-Orly airports.

Under French law, ADP is responsible for constructing, operating and developing all airport facilities in the Ile de France region, particularly those at the two Paris airports.

The Swiss company TNG specialises in airport retailing and is also involved in airport catering services and on-board sales on planes and boats.

After investigation, the Commission said their joint venture "would not have a detrimental effect on competition in the markets for retail sales or retail trade concessions at airports because the two companies have only a limited share of the European and world markets, and have many other competitors." (Reporting by Jeremy Smith)

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