China Duty Free: Estimated consideration for acquisition of DFS Greater China travel retail business equity and assets is approximately $294 million

MetaMuskRat · 2026-03-21T08:27:15+00:00

China Duty Free Group announced that it plans to acquire the DFS Greater China regional travel retail business for no more than $395 million. After the acquisition, the company will issue additional H shares to Delphine SAS and Shoppers Holdings HK, with the actual consideration amounting to $294 million, excluding the DFS Hong Kong Causeway Bay store. The transaction has been completed.

MetaMuskRat

2026-03-21 08:27:15

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People’s Financial News, March 19 — China Duty Free Group (601888) announced on March 19 that its wholly-owned subsidiary previously disclosed plans to acquire equity interests and assets related to DFS Greater China travel retail business for no more than $395 million in cash. After the completion of this acquisition, the company will issue, at HKD 77.21 per H-share, additional shares to Delphine SAS and Shoppers Holdings HK, totaling no more than 7.3301 million and 4.6374 million H-shares respectively. On March 19, 2026, according to the “Framework Agreement,” China Duty Free International Limited, a wholly-owned subsidiary, completed the payment for the transaction, with an estimated cost of $294 million. Due to unmet conditions specified in the “Framework Agreement,” the parties mutually agreed to exclude the DFS Hong Kong Guangdong Road (New Sun Plaza) store from this acquisition, and the parties have completed the delivery as agreed. The final cost of this acquisition will be subject to customary adjustments based on the final settlement accounts.

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