Dufry to acquire World Duty Free
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Earlier today, Dufry has entered into a binding agreement to acquire Edizione's 50.1% stake in WDF for € 10.25 per share. The transaction values WDF at €3.6bn and will trigger a mandatory takeover offer for the remaining shares. Dufry will finance the acquisition through a mix of debt and equity, raised through a rights issue which is underwritten by a group of banks and well-known cornerstone investors.
Detailed information on the transaction will be issued on Monday, 30th March 2015, early morning.
About Dufry
Dufry AG (SIX: DUFN; BM&FBOVESPA: DAGB33) is a leading global travel retailer operating over 1,650 duty-free and duty-paid shops in airports, cruise lines, seaports, railway stations and downtown tourist areas. Dufry employs around 20,000 people. The Company, headquartered in Basel, Switzerland, operates in more than 60 countries around the world.
About WDF
WDF, the holding company of World Duty Free Group, is one of the world’s leading travel retailers, operating mainly in airports and with a broad geographical reach. It has operations in 20 countries through 105 locations with over 500 stores, from its heartland in Western Europe, to the Americas, the Middle East and Asia. In 2014, WDF reported turnover of € 2,440 million and EBITDA of € 261 million. WDF operates some of the most exciting and engaging airport shops in the world, with a focus on the customer and innovative marketing programmes, including multi-channel digital and live in-store interactive promotions.
Legal Disclaimer
This press release is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any security in the United States or in any other jurisdiction. Any securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. Information in this press release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Dufry AG as of the date of this press release, and we assume no duty to update any such forward-looking statements. Factors that could affect Dufry AG’s forward-looking statements include, among other things: the ability to successfully consummate the acquisition and realize expected synergies, global GDP trends, competition in the markets in which Dufry AG operates, unfavourable changes in airline passenger traffic, unfavorable changes in taxation and restrictions on duty-free sales in countries where Dufry AG operates.
This document does not constitute a prospectus within the meaning of Article 652A or Article 1156, respectively, of the Swiss Code of Obligations or a listing prospectus pursuant to Articles 27 ET SEQ. of the listing rules of the SIX Swiss Exchange.
