Adani Enterprises, led by Gautam Adani, has revealed that its Dubai-based subsidiary, Ospree International FZCO, has successfully acquired full ownership of France’s Le Marche Duty Free SAS (LMDF) for 5,000 euros.
This strategic acquisition is aimed at strengthening the company’s presence and expansion in the duty-free sector. Adani Enterprises highlighted the importance of this move in a filing to the stock exchange, emphasizing its alignment with the growth objectives of Mumbai Travel Retail Private Limited.
LMDF, founded on February 7, 2024, is owned by Atul Ahuja, the promoter of the Flemingo Group. However, operational activities have not yet commenced.
“In the exchange filing, Adani Enterprises stated, “The Company has acquired 5,000 shares of LMDF with a nominal value of one (1) euro each from Mr. Atul Ahuja.” In November 2023, the Adani Group, a significant player in India’s airport operations sector, announced its entry into the duty-free industry. This expansion included the formation of a wholly-owned subsidiary, MTRPL Macau Ltd, in Macau, with the aim of establishing duty-free shops at the Macau International Airport.
The airport initiated tender processes, seeking an operator to manage duty-free liquor and tobacco services, optionally including general merchandise retail services (excluding perfume and cosmetics) within designated sub-concession areas at Macau International Airport.
The company manages operations at several key airports, including Mumbai, Ahmedabad, Lucknow, Jaipur, Guwahati, and Thiruvananthapuram. Additionally, it is actively involved in the development of the upcoming international airport in Navi Mumbai.
This move underscores the Adani Group’s diversified business strategy, which has recently expanded into various sectors such as telecom, data centers, cement, and media. Adani Enterprises’ shares experienced a decline on Wednesday, closing at ₹3,233.40 per share on the BSE, marking a decrease of 2.28 percent compared to the previous day’s closing price.
