Date: April 2013
Dubai: Flemingo secures investment for growth in emerging markets with CDIB, Capital International Corporation , the international Private Equity investment arm of China Development Financial Holdings Corporation .CDIB has a bias for investing in consumer/retail ,media/technology companies and its parent company is one of the oldest and largest banking groups in Greater China , with us$17bn assets. Flemingo continues to concentrate on its vision of 2B.BY 2020[two billion dollar sales by 2020] and considers further emerging market targets beyond the ISC in the Asian region.

Lionel de Saint-Exupery, the President and CEO of CDIB added, “Flemingo has successfully established itself as the leading franchise in emerging markets duty free industry through impressive organic growth as well targeted acquisitions . We are truly excited to work closely with Atul Ahuja and his talented team as they continue to deliver profitable growth.”

“We are absolutely delighted to have CDIB as part of the Flemingo team,” said Atul Ahuja, Global CEO of Flemingo. “With their extensive experience and capabilities in Asia, they will be an invaluable partner as we continue to expand our reach in duty free markets in the region”