A PYMNTS Company

Russia: Communications co makes airport buyout to enter travel retail market

By  |  May 15, 2013

Business communications conglomerate Nuance is set to make an 80 percent buyout of Lenrianta, the largest retail operator at St Peters Burg Pulkovo airport, as part of the company’s agenda to enter the travel retail market in Russia. Earlier this year, Nuance won a bid for the airport concession, during with the company stated the two parties worked closely. More than 3,000 square meters of retail space will land in Nuance’s hands in early 2014 as part of the deal, which follows Nuance’s acquisition of a duty free contract with the airport, won last February.

Full Content: Airport World

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.