Gomez Navarro to take top job at Aldeasa

John Gallagher

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Former Spanish commerce and tourism minister to head company after Autogrill/Aldeasa acquisition

Spain's former minister for commerce and tourism Javier Gomez Navarro will take over as president of Aldeasa tomorrow, according to Spanish financial daily Cinco Dias. Gomez Navarro acted as an adviser to Altadis during its negotiations with Italian conglomerate Autogrill over the acquisition of the Spanish travel retailer.

RavenFox.com understands that current Aldeasa president Jose Fernandez Olano will resign at tomorrow's board meeting to be held in Madrid, at the same time as the appointment of Gomez Navarro and other executive directors by the new owners of the company.

Spanish stock market regulator CNMV announced that Autogrill subsidiary Retail Airport Finance's bid for Aldeasa had been successful, with 95.89% of Aldeasa shareholders accepting the €36.57 ($47.49) per-share offer. Retail Airport Finance is a joint venture between Autogrill and Altadis, which traded its 34.5% shareholding in Aldeasa for 50% of the new company.