Dufry: buys 60% stake in Russian duty-free operator
(CercleFinance.com) - Swiss travel retailer Dufry has reached an agreement to take a 60% stake in Russian duty-free company RegStaer Vnukovo to increase its presence in Moscow airports, the group said on Wednesday.
The deal included a long-term concession until 2035 and a scope of more than 30 duty-free and duty-paid shops, mostly found at Moscow's Vnukovo airport, which has around 22 million passengers per year.
RegStaer Vnukovo generated a sales volume of 58.8 million euros at Vnukovo airport in 2018.
The transaction is expected to be completed in the third quarter. Financial terms were not disclosed.
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