US/SWITZERLAND. Dufry has formally completed its merger with Hudson, which now becomes an indirect wholly owned subsidiary. The deal closed today following a special general meeting of Hudson’s shareholders, staged virtually on 30 November.
Dufry CEO Julián Díaz said: “The full re-integration of Hudson into Dufry is an important element in adapting the company to the new business environment and will allow us to reduce complexity, add agility in the decision-making process and reduce costs related to the separate listing. From a strategic perspective we will continue to focus on duty free and duty paid travel retail as well as opportunities in alternative channels such as airport food & beverage operations.”
At the meeting, Hudson’s shareholders voted to approve and adopt the Merger Agreement and the related Statutory Merger Agreement between Hudson, Dufry AG and Dufry Holdco Ltd. The motion was carried with 98.59% of the votes cast at the meeting.
Hudson’s Class A shareholders are entitled to receive US$7.70 in cash for each Class A share held.
Trading in Hudson’s Class A common shares on the New York Stock Exchange has been suspended with immediate effect and the shares will be delisted in approximately ten days.
Wider details surrounding the merger were reported by The Moodie Davitt Report in August. See the full story here.
