Herbert Smith Freehills' Middle East corporate team has successfully advised Lagardère Travel Retail (LTR) on its agreement to acquire a majority share and controlling interest in Creative Table Holdings ltd (CTH), a foodservice operator at Dubai airport. The €74 million transaction signed on 18 February 2022.
CTH has successfully developed a catering offer at Dubai airport as well as an award-winning portfolio of Food & Beverages brands (local and healthy concepts), which will complement LTR's portfolio.
This acquisition will allow LTR to benefit from a foothold in one of the most renowned airline hubs in the world and opens up new development prospects for it at Dubai airport.
Subject to the approval of the competent competition authorities and other customary conditions, the completion of the acquisition should take place during the first quarter of 2022.
Head of Middle East Corporate Chris Walters, commented: "We are delighted to have been able to support the firm's long-standing client Lagardère Travel Retail on such a significant transaction for them in the Middle East."
The team was led by Head of Middle East Corporate Chris Walters and supported by senior associate Anna Szyndler, associate Andrew El-Khoury and trainee solicitor Tala Abdul Jabbar.
Kyriakos Fountoukakos and Sergio Sorinas are providing merger control advice to Lagardère Group with the support of Saudi counsel.
