News Snapshot:
By Giulia Petroni Lagardere SA said Thursday that it has agreed to sell a 22.36% stake in Lagardere Travel Retail Asia to e-commerce company JD.com Inc. and public-investment firm China Jianyin Investment. The French media group said the move aims to accelerate Lagardere Travel Retail's development in Asia, particularly through digital distribution channels. Lagardere Travel Retail Asia covers the unit's North Asia business, including mainland China, Hong Kong and Japan. JD.com is set to hold a 18.63% stake in the business, while China Jianyin Investment will have a 3.73% stake. The transaction, which is scheduled to be completed in September,...