(incorporates pieces) LONDON / MILAN, January 29 (Reuters) – Lagardere is working with Societe Generale to study a possible integration of the activities of its subsidiary active in travel retail with those of World Duty free, according to state two sources close to the situation. A third source adds that the French group is in talks with several private equity funds to help finance the transaction, the value of which exceeds $ 1.2 billion. At today’s prices the company capitalizes approximately 2.44 billion euro ($ 2.75 billion). Lagardere and Societe Generale at the time declined to comment. Edition, the majority shareholder of World Duty Free, in a statement said that since last January 15 has received numerous requests for information from the banks, but so far there has been no concrete proposal. Lagardere, which controls LS Travel Retail, is not in fact the only one intereste d in World Duty Free, which has repeatedly declared to be looking for an industrial partner. Even Dufry is watching the dossier, as confirmed today by two sources close to the situation. In late December, two sources had told Reuters that the Benetton family, majority shareholder with 50.1%, is poised to fall below the 30% stake in the group to facilitate aggregation with an industrial partner. Even then, one of the sources pointed out that had come forward some industry groups, including also the leader Dufry. In November, a spokesman for the South Korean Lotte Duty Free said that the group was ‘taking a look’ to the Italian company. According to two sources of funds also some private equity funds might be interested in the dossier World Duty Free. The Benetton family, however, has always said to seek an industrial partner for a “business combination”, not a financial transaction. More …
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