LVMH sells greater China retail business of its DFS group to CTG

Reuters01-19

PARIS, Jan 19 (Reuters) - French luxury group LVMH LVMH.PA, the world's biggest, said on Monday that it has agreed to sell its DFS travel retail business in Hong Kong and Macau, as well as its intangible assets in greater China to China Tourism Group Duty Free Corp (CTG) 601888.SS, a Chinese travel retail operator.

The deal was valued at around $395 million.

(Reporting Louise Rasmussen, editing by Tomasz Janowski)

((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))

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