Free Dufry team store in living room at Denpassar international airport in Bali March 23, 2017. REUTERS / Thomas White
July 11 (Reuters) – Freeman Dufry (DUFN.S) has agreed to buy an Italian airport and motorway caterer Autogrill (AGL.MI), creating a huge transport industry to take advantage of growth opportunities as part of the payoff, companies. he said on Monday.
The Italian family of Benetton – Autogrill’s major investor – will transfer its total stake of 50.3% to Dufry, which will provide fewer holdings, with Benetton holding the Edizione company becoming the largest shareholder in the 20-25% stake.
“The merger of these two groups will create a new leader in the field of travel and allow us to significantly increase our presence in central markets, such as the US, and in the food and beverage sector of travel,” Dufry chairman Juan Carlos Torres said at the conference. corporate statement.
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“These transactions will strengthen our brand, reduce our numbers and create meaningful relationships. This may interest you : Early Diagnosis of Liver Disease Includes Improvement of the Future Life.”
At Friday market prices, the two companies had a market capitalization of $ 5.5 billion.
Dufry CEO Xavier Rossinyol will lead a mixed group, with Torres keeping his job in the new company.
The delivery of the Benetton family pit, made through Edizione, will be at a rate of 0.158 new Dufry share per Autogrill share, the groups said in a statement.
The offering represents a 25-30% reduction in retail prices on Friday, Rossinyol said in a telephone interview with reporters.
The remaining Dufry Tent for the remaining Autogrill shares will provide 0.158 new Dufry shares per Autogrill share or 6.33 euros ($ 6.43) per Autogrill share.
Dufry shares rose 6.2% in the early trading period and Autogrill stock dropped 8%.
“We welcome the announcement of the agreement as the business combination of both companies represents an appropriate partnership and will support Dufry’s new plan,” Baader analyst Helvea Volker Bosse wrote in a buyer letter.
The merged company will be renamed and the agreement is expected to expire in the second half of next year.
Dufry said the combined company will provide 2.3 billion travelers in more than 75 countries, bringing in 13.6 billion Swiss francs ($ 13.90 billion) and initial salaries of 1.4 billion Swiss francs.
Current Autogrill CEO Gianmario Tondato da Ruos will take over the new chairmanship of the new North American business group and Edizione Chairman Alessandro Benetton will join the esteemed chairman.
The companies had confirmed they were in private talks by the end of June. read more
Basel-based Dufry operates approximately 2,200 stores at airports, cruise liners, harbors and other tourist destinations around the world.
Dufry’s organic sales doubled in the first quarter of 2022, driven by strong violence in Europe as coronavirus curbs declined. Thus, organic sales were still 40 percent below pre-epidemic levels in 2019.
For the second quarter sales net was about seventeen percent compared to 2019 and the first half of sales was 25% lower from 2019, Dufry said.
Autogrill runs bars, cafes and restaurants at 139 airports, including 80 in North America, as well as on European roads.
UBS and Credit Suisse served as financial advisors to Dufry, with BofA Securities for Edizione.
Citigroup Global Markets Europe AG, Intesa Sanpaolo and Mediobanca were financial advisors at Autogrill.
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Is alcohol cheap in Delhi airport?
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Harles “Chuck” Feeney, 89, joined airport salesman Duty Free Shoppers and Robert Miller in 1960, raising billions living a life of insecurity as monks.
Is alcohol cheaper in the airport?
“Airplanes are one of the best places to sell high-quality and expensive beer. As alcohol has become more expensive in Delhi after the reduction, travelers to Gurugram and Haryana will also be buying alcohol here, “said one official.
Is there any discount on alcohol in Delhi?
Can I buy free beer at Delhi airport? It’s legal not. Home travelers are not allowed to buy alcohol from a free store. A free store is usually available after international travel and after travel in foreign countries so how can a traveler get there.
How much alcohol can I buy from Delhi airport?
We found that the air prices we selected were 30% to 40% higher than those at airports. At all U.S. airports we checked, Tampa airport had a very expensive air conditioner.
How many employees does dufry?
It is one of the many applications under the Delhi Excise Policy. The Delhi government plans to remove the current 25 percent reduction in alcohol prices and make them unlimited from June 1, under the revised Excise Policy 2022-23, officials said.
2 liters of alcohol alcohol or wine. Total Value Duty Free Purchase cannot exceed Rs 50,000.
How big is dufry?
Customers rely on professional services for more than 29000 Dufry employees. Dufry operates worldwide, with its corporate structure organized into four regions.
Who owns dufry?
| Is dufry a public company? Dufry is a publicly traded company – its shares are listed on the SISX Swiss Exchange (6 December). Extraction of the remaining 25% share capital of Dufry from former shareholders with a joint venture led by Advent International Corporation (July). | Dufry AG is a Swiss-based travel retailer that operates free and paid stores and convenience stores in airports, travel lanes, docks, train stations and tourist destinations. The company, headquartered in Basel, employs about 36,000 people and operates in more than 65 countries around the world. | Name |
|---|---|---|
| Equities | % | General American Investors Co., Inc. (Investment Management) |
| 127,584 | 0.014% | Castleview Partners LLC |
How many Hudson News locations are there?
45,348
0.0050%
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World Duty Free. …
What is Hudson News worth?
Nuance.
