| Qatar Investment Authority and Swiss travel retailer Dufry are teaming up to bid for Italian travel retailer World Duty Free (WDF), which belongs to the Benetton family, two sources familiar with the matter told Reuters on Monday. "QIA and Dufry have a joint bid for WDF," said a senior banker in Doha familiar with the matter.
He declined to give details but said the tie-up was a sign of a more conservative investment style adopted by the Qatari sovereign wealth fund recently; in the past, it might well have bid by itself. A second source confirmed the joint bid and said the deadline was now expected to be March 31, after a delay due to rival bidders - South Korea's Lotte Group and China's Sunrise Duty Free - asking for more time...............................................Full Article: Source |