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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

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Chinese conglomerate HNA Group has completed the acquisition of a 16.2 per cent stake in Swiss airport retailer Dufry AG from Singaporean sovereign funds GIC and Temasek, Dufry and HNA said on Monday.

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...

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