Duty-free ambitions for Atlan Holdings

Nicole Mezzasalma

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The company’s takeover bid for Naluri Corp would include a 64.54% stake in duty-free operator DFZ Capital

Malaysian group Atlan Holdings has made a takeover bid for Naluri Corp, in which it already holds a 38% stake, according to the Malaysia Star. The acquisition would expand the property group’s activities into travel-retail as Naluri has a 64.54% equity interest in duty-free operator DFZ Capital, which operates The Zon Duty Free stores at Kuala Lumpur International and Batu Berendam airports, seaport outlets and border stores in the country.

If Atlan’s voluntary general offer to buy the remaining shares in Naluri Corp is completed, the company will be delisted and privatised.