Hellenic confirms interest in Philip Morris ship supplies unit

Dermot Davitt

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The retailer tells RavenFox.com that is in talks regarding a "possible cooperation" with the Philip Morris subsidiary

Greek duty-free operator Hellenic Duty Free Shops is in talks with Philip Morris over a possible partnership with, or acquisition of, the tobacco manufacturer's local ship supplies subsidiary Ioniki. According to reports from newswire service AFX News, the two companies have been in negotiations for over a year, although a decision is not expected in the immediate future.

A spokesman for Hellenic told RavenFox.com that the company is ?in talks with Philip Morris International for a possible cooperation in the field in which Ioniki is active?. He added: ?No decision has been made yet and the company will inform the Athens Exchange and the investment community with any further developments.?

A deal would further enhance the retailer's distribution business, which was bolstered recently by a contract to supply Macedonia's Skopje and Ohrid airports with fragrances and cosmetics, liquor (ouzo, wine and brandy) and cigars.