HNA acquires stake in Dufry

Updated 2017-08-22 09:32:29 Global Times

Chinese conglomerate HNA Group has completed the acquisition of a 16.2 percent stake in Dufry, the Swiss airport retailer, and its total stake in the Swiss group will rise to 20.92 percent, HNA and Dufry said on Monday, Reuters reported.

The stake is estimated to be worth .4 billion given Dufry's current market capitalization although the exact value was not announced, the report said.

The acquisition of Dufry's shares was in line with China's "Belt and Road" initiative as the Swiss retailer's businesses cover many countries and regions along the route of the initiative, HNA said, according to the report.

Dufry runs more than 2,200 duty-free and duty-paid shops.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 23 2017 08:21:33

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 23 2017 08:21:33

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 23 2017 08:21:33

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords