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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

Nisha Ramchandani

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

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.…