The Business Times
business-time-50
SUBSCRIBERS

GIC, Temasek to each acquire up to 450m Swiss francs of shares in Dufry

Swiss travel retailer is raising funds to buy Italy's World Duty Free

google-preferred-sourceAdd BT as a preferred source
Nisha Ramchandani

Nisha Ramchandani

Published Mon, Mar 30, 2015 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    Singapore

    GOVERNMENT of Singapore Investment Corp (GIC) and Temasek Holdings have each committed to buying up to 450 million Swiss francs (S$641.1 million) worth of shares in Swiss travel retailer Dufry, which is raising funds to acquire Italy's World Duty Free (WDF).

    In a release on Monday, Basel-based Dufry announced that it will acquire holding company Edizione's 50.1 per cent stake - held by the Benetton family - in WDF at 10.25 euros per share, after which it will launch an offer for the remaining 49.9 per cent stake at 10.25 euros per share. It will acquire the 50.1 per cent stake in Q3 2015.

    GICTemasek

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Lim's pay package includes about S$3.6 million as salary and around S$3.9 million as bonus, indicates the company's annual report.

    Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025

    Chinese Foreign Minister Wang Yi stopped short of explicitly naming the US or Israel as aggressors, a telling omission from a country that otherwise speaks with little diplomatic timidity.

    Beijing’s calculated silence on the Iran war 

    Those aged below 30 account for the largest share of overqualification.

    More workers in Singapore opt for jobs for which they are overqualified: MOM, NTUC studies

    While residential property has delivered solid gains, observers say other assets such as equities often outpace it over the longer term.

    Higher costs, lower returns: Why are Singaporeans still betting on real estate?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More