December 20, 2017 / 8:42 AM / a month ago

Elliott takes 5.6 percent stake in Swiss duty-free retailer Dufry

Dec 20 (Reuters) - Activist investor Elliott Management has taken a 5.6 percent stake in Swiss duty-free retailer Dufry AG , a regulatory filing to Swiss exchange SIX showed on Wednesday.

While the details on the seller was not disclosed in the filing, Financial Times reported citing sources that an investment bank sold the shares as part of a complicated derivatives options trade for Chinese conglomerate HNA Group.

HNA Group, which is selling properties to reduce debt, held 21 percent stake in the Swiss company before the sale. (Reporting by Thyagaraju Adinarayan in Gdynia; editing by Jason Neely)

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