Lagardère Travel Retail and OCIC Group signed a Memorendum of understanding (MOU) in presence of HE Prime Minister Hun Manet

Paris, 16 January 2024 – OCIC Group has selected a consortium led by Lagardère Travel Retail and HSC Group for the management of duty-free services at the Techo International Airport in Phnom Penh. The decision was announced during the official visit of Cambodia's Prime Minister, His Excellency Samdech Moha Borvor Thipadei Dr. Hun Manet, to France, during the Signings Ceremonies of the Economic Forum at MEDEF, in Paris. The Techo International Airport, scheduled to open in 2025, is expected to enhance Cambodia's global connectivity.

Techo International Airport developed by Cambodia Airport Investment Company (CAIC), is a joint venture between OCIC Group, and SSCA and designed by world renowned British design studio Foster + Partners, covers 2,600 ha located 19km from the city center of Phnom Penh. It is slated to become the 9th largest airport once fully operational, with a capacity to cater to the largest commercial aircraft at Class 4F. The Techo International Airport is geared to become Cambodia's newest gateway.

Séverine Lanthier, Asia COO & Global Chief Strategy and Development Officer, says “Lagardère Travel Retail is committed to make travel more enjoyable. We are looking forward to keeping on enhancing Cambodian, South Asian and international travelers’ airport experience by investing our global know-how and local expertise at Techo International Airport."

The selection of Lagardère Travel Retail and HSC Group consortium as the preferred bidder for the Techo International Airport Duty-Free concession marks the commencement of exclusive negotiations, set to kick off

in the coming weeks. The signing of Letter of Acceptance took place in Paris on January 15th, 2024, in the presence of His Excellency Samdech Moha Borvor Thipadei Dr. Hun Manet, Prime Minister of Cambodia. The letter was signed by Dr. Lim Lina, Vice Chairwoman of CAIC and OCIC Group along with Mr. Dag Rasmussen, CEO of Lagardère Travel Retail, Ms. Séverine Lanthier, Asia COO & Global Chief Strategy and Development Officer of Lagardère Travel Retail and Lok Oknha Sok Hong, Chairman & CEO of HSC Group.

Oknha Charles Vann, Director of Cambodia Airport Investment Company remarked on the recent developments: “Through our collaboration with Lagardère Travel Retail and HSC Group as our duty-free concessionaires, we anticipate significant added value for frequent flyers traveling to and from Phnom Penh. We are confident that these initiatives will foster the growth of Phnom Penh's tourism sector and contribute to the creation of employment opportunities for the local community in the immediate future.”

This recent milestone signifies OCIC Group’s commitment to nation building through the development of strategic infrastructure for Cambodia with an investment of 1.5 billion USD being made for the first phase of the airport’s construction.

The selection of Lagardère Travel Retail, the world's 2nd largest operator of Travel Retail in airports in 2022 and the leading Travel Retail operator in France, and HSC Group for the management of duty-frees at Techo International Airport will make it possible to introduce new innovations in customer experience for future passengers be it our fellow citizens and those visiting Cambodia. The expertise and international network from which travelers will benefit, would position Cambodia as a key player on the Asian regional scene,” added Thierry Tea, Vice-President of OCIC Group.

The French operator, present in 42 countries, generated in 2023 more than 5 billion euros in turnover. In Asia, the group operates more than 250 stores. The future collaboration with Lagardère Travel Retail and the OCIC would make it possible to develop the finest curation of international, regional, and local brands in Cambodia.

About OCIC

OCIC is one of Cambodia's leading diversified conglomerates. OCIC Group is a group of companies and businesses that are affiliated to OCIC and includes a business portfolio in property development, real estate, education, healthcare, airport, construction & engineering, retail, hospitality to media and leisure. OCIC's major developments include the Techo International Airport, Koh Pich, Norea City, Chroy Changvar Satellite City and the Olympia City.

OCIC Group is a member of Canadia Group. www.ocic.com.kh