MACAU/INDIA. Mumbai Travel Retail Private Limited, a step-down subsidiary of Adani Enterprises Limited has completed the incorporation of a new, wholly owned subsidiary in Macau.
The entity, MTRPL Macau Limited has been created to bid for duty free liquor & tobacco operations at Macau International Airport.
As revealed, Macau International Airport Company (CAM) launched an open tender on 23 August for a duty free liquor & tobacco services sub-concession.
The tender is separate from the existing contracts held by Cdfm (a joint venture between China Duty Free Group and King Power Group Hong Kong), and The Shilla Duty Free concession. As a result, neither of the incumbents can bid on the new opportunity.
As reported, Adani Airport Holdings Limited (AAHL), the flagship holding company of Adani Group for its airports business and a wholly owned subsidiary of Adani Enterprises Limited, signed a Share Subscription Agreement with Flemingo Travel Retail Private Limited (Flemingo) and Mumbai Travel Retail Private Limited (MTRPL) in September 2021.
AAHL holds a 74% equity share capital of MTRPL. The company’s flagship operation is at Chhatrapati Shivaji International Airport in Mumbai. Its business there embraces 17 stores, including four core duty free shops, one Indian gourmet store and 12 speciality outlets with an aggregate retail area of 6,627sq m. ✈
