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<Research>CLSA Expects CTG DUTY-FREE's Acquisition of DFS to Strengthen Greater CN Retail Network
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Regarding CTG DUTY-FREE (01880.HK)'s recent announcement to acquire DFS's travel retail business in Hong Kong and Macau, along with intangible assets in Greater China, for up to USD395 million in cash, from LVMH Group and DFS co-founder and shareholder Robert Miller, CLSA published a research report covering the matter. The broker said that the transaction aligns with market expectations for DFS's business disposal and should have a limited impact on LVMH. The broker forecast that the acquisition will enhance CTG DUTY-FREE's retail network in Greater China, synergize with the core business on merchandising, logistics and CRM, deepen its operations in Hong Kong and Macau and support the overseas expansion of Chinese premium brands. DFS's experience in global downtown duty-free stores can also bring synergies to CTG DUTY-FREE. The introduction of LVMH-related shareholders may pave the way for future luxury supply chain cooperation. AASTOCKS Financial News Website: www.aastocks.com |
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