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OMB APPROVAL
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OMB Number 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
BAA plc
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(Last) (First) (Middle)
Stockley House
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(Street)
130 Wilton Road
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(City) (State) (Zip)
London England SW1V 1LQ
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2. Date of Event Requiring Statement (Month/Day/Year)
7/2/97
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
DUTY FREE INTERNATIONAL, INC.; "DFI"
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5 Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
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7. Individual or Joint/Group Filing (Check applicable Line)
__ Form filed by One Reporting Person
__ Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
Common Stock, par value $.01 8,626,073 D On July 2, 1997, W&G Acquisition Corpor-
per share tion (the "Purchaser") and BAA plc
("Parent") entered into a Shareholders
Agreement (the "Shareholders Agreement")
with certain shareholders (the "Selling
Shareholders") of Duty Free International,
Inc. (the "Company"), pursuant to which,
upon the terms set forth therein, the
Selling Shareholders have agreed to
tender, in accordance with the terms of
the tender offer described in BAA plc's
Schedule 14d-1 dated July 9, 1997 (the
"Offer"), all of the shares of common
stock, par value $.01 per share (the
"Shares") of the Company, owned (bene-
ficially or of record) by the Selling
Shareholders. As of July 2, 1997, the
Selling Shareholders owned (either
beneficially or of record), excluding
Shares issuable upon the exercise of
stock options, 8,626,073 Shares.
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reportng person, see Instruction
5(b)(v).
<PAGE>
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 7. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Option n.a. 12/31 or Common Stock, par 5,434,367 $24 D*
earlier value $.01 per share
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</TABLE>
Explanation of Responses:
/s/ J. Russell S. Walls 7/11/97
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**Signature of Reporting Person Date
* On July 2, 1997, BAA entered into a Stock Option Agreement (the "Option
Agreement") pursuant to which the Company has an irrevocable option (the
"Option") to purchase up to 5,434,367 newly issued shares (the "Option
Shares") upon the terms and subject to the conditions of the Option
Agreement, at a price of $24 per Option Share.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
