The strategic acquisition aims to strengthen the company’s footprint and expansion in the duty-free sector. Adani Enterprises emphasized the importance of this move, underlining its alignment with the growth objectives of Mumbai Travel Retail Private Limited.
Adani Enterprises, led by Gautam Adani, revealed that its Dubai-based subsidiary, Ospree International FZCO, has completed the acquisition of 100% ownership in France’s Le Marche Duty Free SAS (LMDF) for a sum of 5,000 euros.
This strategic initiative is aimed at strengthening the company’s position and advancing its growth within the duty-free industry. Adani Enterprises highlighted the importance of this acquisition in a filing to the exchange, emphasizing its alignment with the expansion goals of Mumbai Travel Retail Private Limited.
Founded on February 7, 2024, LMDF is under the ownership of Atul Ahuja, who is the promoter of the Flemingo Group. However, operational activities have not yet begun.
In the exchange filing, it was stated by Adani Enterprises that 5000 shares of LMDF, each with a nominal value of one (1) euro on the face value, were acquired from Mr. Atul Ahuja.
In November 2023, the Adani Group unveiled plans to enter the duty-free industry. Adani Group is known for its significant role in India’s airport operations sector.
This initiative involved creating a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau, with the goal of establishing duty-free outlets at the Macau International Airport.
The airport initiated tender processes. It specified its search for an operator to manage duty-free liquor and tobacco services, optionally inclusive of general merchandise retail services (excluding perfume and cosmetics) within designated sub-concession areas at Macau International Airport.
The firm oversees operations at several key airports, such as Mumbai, Ahmedabad, Lucknow, Jaipur, Guwahati, and Thiruvananthapuram. Furthermore, it plays an active role in the development of the upcoming international airport in Navi Mumbai.This action emphasizes the Adani Group’s diversified business approach, which has recently forayed into multiple sectors, including telecom, data centers, cement, and media.
