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S.Korea's Hotel Shilla To Buy US Duty-Free Stake

2015-03-23 16:46:11| Chemicals - Topix.net

Hotel Shilla said it will buy a 44 percent stake in US in-flight duty free retailer DFASS for USD$105 million, the latest push abroad by a South Korean duty free operator amid intensifying competition at home. Shilla, a hotel and retail unit of Samsung Group and the world's No.7 duty free retailer by revenue, has an option to buy an additional 36 percent of DFASS in five years, it said in a statement.

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