CTG Duty Free Takes DFS Hong Kong and Macau, Expanding China's Travel-Retail Reach
China Tourism Group Duty Free will cash purchase DFS’s stores in Hong Kong and Macau (excluding City of Dreams) and related intangibles in Greater China, with DFS continuing its other operations worldwide. LVMH and the Miller family will subscribe to CTG Duty-Free’s Hong Kong‑listed H‑shares as part of a capital increase, and CTG and LVMH will pursue a strategic cooperation in Greater China. The deal, expected to close in about two months, significantly strengthens CTG Duty-Free’s dominance in the region and reshapes the global travel-retail landscape.