The German group PREUSSAG and French travel agency NOUVELLES FRONTIERES (FF 10.9 bn turnover in 1999) have concluded an industrial and capital alliance giving rise to Europe's number one group in the tourist industry, thanks to the German firm's recent purchase of THOMSON TRAVEL (see EI of 17 May). Under the terms of the plan, PREUSSAG will gradually take a minority 34% block share of the French group, by March 2002, valuing NOUVELLES FRONTIERES at FF 4 bn.