24 Mar 2016
Acquisition of up to approximately 25% equity interest in DFZ Capital Berhad (a subsidiary of Duty Free International Limited (listed on SGX) and Atlan Holdings Bhd (listed on Bursa Malaysia))
Abdul Jabbar, Lee Xin Mei and Farrica Koh from Rajah & Tann Singapore and Yau Yee Ming from Christopher & Lee Ong are acting for Heinemann Asia Pacific Pte. Ltd. (a wholly owned subsidiary of Gebr. Heinemann) in its acquisition of up to approximately 25% equity interest in DFZ Capital Berhad from Duty Free International Limited.
Gebr. Heinemann is the only family-run business among the global players of the travel retail industry and one of the top players on the international travel retail market as well as the leader on the European market. As a distributor, Gebr. Heinemann supplies more than a 1,000 customers in 100-plus countries. In the retail sector, Gebr. Heinemann operates more than 300 Heinemann Duty Free and Travel Value shops, fashion label boutiques under licence and concept shops at 78 airports in 28 countries along with shops at border crossings and aboard cruise liners. Gebr. Heinemann has 6,000 employees around the world. In 2014 the family-run business generated total sales of 2.4 billion euros.
DFZ Capital Berhad, a subsidiary of Duty Free International Limited with an operating history of 35 years, is the largest multi-channel duty free and duty paid retailing group in Malaysia. DFZ Capital Berhad through its “ZON” brand of retail shops serves both Malaysian and international customers across all major entry and exit points in Peninsular Malaysia including operations at international and domestic airports, seaports, border towns, duty free islands and other tourist destinations.
On completion of the transaction, Heinemann Asia Pacific Pte. Ltd. will own 10% plus one share of the equity interest in DFZ Capital Berhad (with options to purchase up to an additional 15% of the equity interest in DFZ Capital Berhad). As part of the transaction, Heinemann Asia Pacific Pte. Ltd. will have extensive rights for the purchase and exclusive supply of certain product categories to DFZ Capital Berhad. Heinemann Asia Pacific Pte. Ltd. will be involved in day-to-day operations and overall decision making of the business. Over time the joint venture will offer to Malaysians and visitors to Malaysia, an enhanced travel retail experience on par with the best available in the world.