Dufry confirms 51% FFG talks

By Doug Newhouse |

The Dufry Group confirmed this morning that it is in advanced negotiations to take a 51% share in the Folli Follie Group’s travel retail business.


The company added that ‘Dufry shall proceed to official announcements according to the law’, which suggests that this deal is more or less ‘done’ barring any unforeseen circumstances.


This simply provides confirmation of two earlier statements by Hellenic Duty Free Shops that indicated that ‘negotiations and discussions’ on the future of HDFS’ were underway.


As reported by The Business, this latter statement was made in a second written reply to the Hellenic Capital Markets Commission (HCMC) following local Greek press rumours.


In that communication, Folli Follie/HDFS said: “In response to the letter sent by the Hellenic Capital Markets Commission under protocol number 3656/19.9.2012, in view of a publication in the electronic newspaper ‘Euro2day’ of Wednesday 19th September, 2012 under ‘Folli Follie: the dessous for the sale of HDFS,’ the Company announces that it insists in its previous announcement to the public of September 10, 2012 – and wishes to repeat – that the negotiations and discussions in relation to the business unit of Duty Free Shops are under way without, however, any agreement being reached so far between the parties.”


As also reported, in its previous letter to the HCMC (under protocol number 3467/10.9.2012) Folli Follie said little more, other than to refer to the sources for the story and that discussions are taking place.


That statement reads as follows: “In response to the letter sent by the Hellenic Capital Markets Commission under protocol number 3467/10.9.2012, in view of a publication of the newspaper ‘AKSIA’ of Saturday 8th – Sunday 9th of September 2012 under ‘Folli Follie Group: HDFS to be sold’, the Company announces that in the context of its on going pursuit for new co operations, new ways of development of its activities are examined.”


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