EU approves Autogrill's buy of WDF from Ferrovial

BRUSSELS (Reuters) - Italy's Autogrill (AGL.MI: Quote, Profile, Research) won permission from the European Commission to buy the World Duty Free airport retail business of Spain's Ferrovial (FER.MC: Quote, Profile, Research) for an enterprise value of 543.5 million pounds ($1 billion).

"The merged entity, although it would become the leading player in airport travel retail, would continue to face a number of important competitive constraints, both in bidding for retail concessions at airports and in the operation of airport shops," the EU competition watchdog said in a statement on Friday.

Autogrill, which operates restaurants on motorways and in airports, already has a global reach from Canada to India in the lucrative travel retail and duty-free business.

Autogrill is 57.1 percent controlled by Italy's Benetton family through a holding company.

(Reporting by David Lawsky; Editing by Dale Hudson)