Saturday, August 19, 2017

Nomos assists Arial in acquisition of Aerofirst from Aer Rianta

Nomos Bank recently helped Arial, the parent company of Russian travel retailer Runway Duty-Free, in the acquisition of the last remaining shares in duty-free retailer Aerofirst from Ireland's Aer Rianta International.

The bank provided Arial with consultation throughout the process and offered the company a loan to carry out the acquisition, Interfax reports.

While Nomos did not disclose the amount of the loan, the company said it has provided Arial with $90 million in loans since their relationship began last year.

Arial manages duty-free retail outlets, bars and retail stores in Domodedovo, Sheremetyevo, Sochi and Tolmachevo. The company purchased a 66.6 percent stake in Aerofirst from Aeroflot in January--a deal valued at nearly $38 million--and the remaining 33.3 percent stake went to Aer Rianta, which entered the duty-free industry in Russia in 1988, according to The Moscow Times.

Aerofirst was founded in 1988 as the first company in Russia to offer duty-free shopping to passengers traveling abroad. It now offers over 24,000 items of the world's best brands. The company works with leading manufacturers to ensure high quality and to eliminate the possibility of counterfeit goods.