CTG Duty Free to acquire travel retail business in Greater China from LVMH-backed DFS Group for $395m.

CTG Duty Free, a travel retail operator, agreed to acquire travel retail business in Greater China from LVMH-backed DFS Group, a global travel retailer of luxury products, for $395m. "The sale of our Hong Kong and Macau stores marks an important step for DFS. DFS’ well-established presence and operational excellence in Hong Kong and Macau is an achievement we take great pride in. The DFS shopping experience will be carried forward and enhanced by the new skills and perspectives that CTG Duty-Free will bring. We are proud of our journey in this region and grateful to everyone who has been a part of it," Ed Brennan, DFS Chairman and CEO.