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SWITZERZLAND. Dufry last night announced the definitive results of its offer for rival World Duty Free S.p.A.
Dufry Financial Services BV (“˜the offerer’) will hold, on the payment date of 16 October, exactly 237,839,116 ordinary shares of World Duty Free S.p.A. This is equivalent to 93.45% of the issuer’s share capital.
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On that date the offerer will pay the agreed €10.25 per share to the issuer’s shareholders who have tendered their ordinary World Duty Free shares in the offer.
Delisting of World Duty Free is set to follow in early November. A new, much-consolidated era in travel retail is set to begin.
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The great consolidation: The acquisition brings together the world’s number one and five travel retailers by value based on calendar 2014 sales, creating a giant that controls some 24-25% of traditional airport travel retail; Source: Moodie Research |
