S.Korea's Hotel Shilla says to buy stake in US duty-free firm for $105 mln
SEOUL, March 23 (Reuters) - Hotel Shilla Co Ltd is buying a 44 percent stake in in-flight duty-free retailer DFASS for $105 million via its U.S.-based affiliate, the South Korean hotel and duty-free operator said on Monday.
Hotel Shilla, a unit of Samsung Group, said in a statement it retains a call option to buy an additional 36 percent of DFASS in five years.
Miami-based DFASS operates more than 25 duty-free shops in the United States, Latin America and the Caribbean as well as in-flight duty-free services, according to its website. (Reporting by Joyce Lee; Editing by Gopakumar Warrier)
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