Air Mauritius to Buy 20% Stake in Airport’s Duty-Free Shops

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Air Mauritius Ltd. will acquire a 20 percent stake in Mauritius Duty Free Paradise Co. Ltd., which runs shops at the nation’s international airport.

The acquisition, worth about 400 million rupees ($11.4 million), will be paid for by issuing 27 million ordinary Air Mauritius shares to Airports of Mauritius Co. Ltd., which owns the duty-free shops, the Port Louis-based carrier said in a statement on the Stock Exchange of Mauritius website.

Air Mauritius, South African Airways, Kenya Airways Plc and RwandAir said last year they were in talks to create an alliance as they face mounting competition. Air Mauritius reported a nine-month loss of 27.5 million euros ($30.1 million) in February. Source: Bloomberg

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