Manufacturing Industry
GEA withdraws Aldeasa bid
Airline Industry Information, March 17, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
GEA, one of three bidders for Spanish airport retailer Aldeasa, pulled out on Wednesday (16 March).
GEA, a consortium made up of investment company Alba, Mercapital and businesswoman Alicia Koplowitz, made the first and the lowest of three cash bids for Aldeasa at EUR29 a share.
The board of Aldeasa said that it favoured a bid by Italian Autogrill, an operator of food and beverage outlets, unless a higher offer was made. Autogrill, in partnership with Aldeasa's main shareholder Altadis, has made a bid of EUR33 a share, putting the total value of the company at EUR693m.
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