CTG DUTY-FREE Surges Over 5% in Early Trading as Subsidiary Plans to Acquire All Issued Shares of DFS Cotai Limitada

CTG DUTY-FREE (01880) opened higher in the morning session, with its share price rising 5.21% to HK$92.30, and a turnover of HK$35.16522 million.

CTG DUTY-FREE announced that on January 19, 2026, CTG International Limited (the buyer), an indirect wholly-owned subsidiary of China Tourism Group Duty Free Corporation Limited (the company), entered into a framework agreement with DFS Venture Singapore (Pte) Limited and DFS Group Limited (collectively referred to as the sellers, both ultimately owned by LVMH and the Miller family).

Pursuant to the agreement, the sellers agreed to sell, and the buyer agreed to purchase, the entire issued share capital of the target company, DFS Cotai Limitada (the share acquisition). Additionally, DFS Hong Kong agreed to sell, and the buyer agreed to purchase via an asset transfer, the business comprising the travel retail operations run by DFS Hong Kong in Hong Kong, including intangible assets in the Greater China region (the asset acquisition, collectively with the share acquisition referred to as the acquisitions).

Through these acquisitions, the company will obtain DFS's travel retail stores located in Hong Kong and Macau, as well as the exclusive rights to use intangible assets, including the DFS brand, within the Greater China region. This move will further expand the company's service network in the Greater Bay Area, enhance its industrial leadership, continuously integrate high-quality travel retail networks, and establish the group's leading position in the regional travel retail market. Simultaneously, leveraging the strategic advantages of Hong Kong and Macau as gateways, it will promote the global expansion of premium domestic products, create a platform for Chinese trends going global, and build an international business mid-office.