Air Mauritius has agreed to buy a 20% stake in Mauritius Duty Free Paradise Co. Ltd which is a company that runs duty free shops at the international airport in Mauritius. The company provides multiple brands with retail space within the international airport. Air Mauritius is a flag carrier of Mauritius that is headquartered in Port Louis and provides flights to several destinations in mostly Africa and Europe. The estimated amount for the execution of this transaction is $11 million and will be paid for by issuing 27 million ordinary Air Mauritius shares to the company being acquired.
Posted in .