Air Mauritius Limited (MUSE:AIRM.N0000) agreed to acquire 20% stake in Mauritius Duty Free Paradise Co Ltd from Airports of Mauritius Co Ltd. for approximately MUR 260 million on March 29, 2019. The consideration shall be payable through issuance of 27 million shares of Air Mauritius Limited for the acquisition of 0.2 million shares in Mauritius Duty Free. The Board of Directors of Air Mauritius Limited has approved the transaction. The acquisition is subject to approval from the shareholders of Air Mauritius, regulatory and statutory approvals. The Listing Executive Committee of the Stock Exchange of Mauritius Ltd (SEM) gave its approval to the listing of 27 million shares to be issued as consideration on May 22, 2019. As on June 10, 2019, the transaction was approved by the shareholders of Air Mauritius. Air Mauritius Limited (MUSE:AIRM.N0000) completed the acquisition of 20% stake in Mauritius Duty Free Paradise Co Ltd from Airports of Mauritius Co Ltd. on August 15, 2019.