Bei Jing Shang Bao·2026-01-20 07:33Group 1 - China Duty Free Group (CDFG) announced the acquisition of DFS Group's travel retail business in Greater China for up to $395 million in cash, which includes 100% equity of DFS Cotai Limitada and related assets from DFS Singapore and DFS Hong Kong [1] - The acquisition encompasses various assets such as personnel, lease contracts, fixed assets, inventory, and intangible assets including brand ownership and membership systems [1] Group 2 - CDFG signed a strategic cooperation memorandum with LVMH to establish a partnership in retail, aligning with LVMH's current business model [2] - The collaboration aims to leverage the strengths of both companies to deepen cooperation in Greater China, focusing on product sales, store openings, brand promotion, cultural exchange, tourism services, and customer experience [2] - The transaction is subject to customary closing conditions and is expected to be completed in approximately two months, allowing CDFG to expand its service network and enhance its international business platform [2]