Xin Lang Cai Jing·2026-01-20 06:32Core Viewpoint - China Duty Free Group (CDFG) has announced an agreement to acquire DFS Group's travel retail business in Hong Kong and Macau, along with intangible assets in Greater China, aiming to enhance its service network and international business expansion [1][2] Group 1: Acquisition Details - The acquisition is expected to be completed in approximately two months, pending customary closing conditions [1] - LVMH Group and Robert Miller's family will participate in CDFG's capital increase by subscribing to newly issued H-shares in Hong Kong, with the subscription amount corresponding to part of the sale price [1] Group 2: Strategic Cooperation - CDFG and LVMH Group have signed a strategic cooperation memorandum to establish partnerships in retail areas where their strategies align [1] - The collaboration aims to leverage each party's strengths to deepen cooperation in Greater China, focusing on product sales, store openings, brand promotion, cultural exchange, tourism services, and customer experience [1] Group 3: Management Perspective - CDFG's General Manager, Chang Zhujun, emphasized that the transaction will expand CDFG's service network, enhance the retail economy in Hong Kong and Macau, and support high-quality development in the region [2] - The acquisition is part of CDFG's strategy to accelerate international business layout and implement the Guangdong-Hong Kong-Macau Greater Bay Area strategy [2]