INTERNATIONAL. Dufry has secured around 94.5% of shares in Autogrill following the latest tender offer to shareholders. It means that Autogrill shares can be delisted from the Milan Stock Exchange, a move that Dufry said it plans to implement in coming weeks.
The share consolidation process is part of the drive to combine the two groups to create a new travel retail to dining superforce.
Based on the recent tender period from 26 May to 1 June, an additional 27.8 million Autogrill shares (7.22% of the share capital) were tendered in the offer. Some 99.83% of the Autogrill shares in this process opted for the share consideration (0.1583 newly-issued Dufry shares for each Autogrill share), and 0.17% of the shares tendered opted for the cash alternative consideration (€6.33 for each Autogrill share).
Previously, as reported, Dufry had secured an 87.13% stake in the food & beverage group in an initial tender phase to shareholders.
Based on these results, Dufry said it expects to issue 4.39 million additional new shares related to the latest tendering period. The first day of trading for those shares is expected to be 8 June. ✈
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The company also hosts The Airport Food & Beverage (FAB) + Hospitality Conference & Awards, which will take place on 12-13 September in Bangkok, Thailand after a four-year COVID-driven absence. Notably, FAB’s remit has been extended this year to feature wider airport hospitality services, including hotels and lounges.
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