Autogrill and the Swiss Dufry are ready for an international wedding. The two travel retail giants will complete a merger operation that will see the birth of a giant worth over 11 billion, present in 60 countries. Another move by the Benetton family which will acquire a role of shareholder rather than manager. It is possible that the union between the two realities will lead to the birth of a new brand, with the service areas that will change their name. The operation is expected to close on the evening of Sunday 10 July, with the announcement that could be provided to the public tomorrow morning, before trading on the Stock Exchange opens.
The partnership between Autogrill And Dufry it had already been brought forward to April. Going into the details of the merger between the two companies, Edizione, the Ponzano Veneto family holding company will confer 50.3% of Autogrill’s shares to Dufry through the parent company Schematrentaquattro. The Swiss company will supply newly issued bonds in exchange. Once the Antitrust has given its consent to the operation, an Opas will be launched, a purchase exchange offer that will involve the minority shareholders of Dufry such as Alibaba (6%) and the Advent fund (11%) who will receive shares or cash since the Swiss company is not listed on the European market. Based on the choice of Dufry shareholders, Edizione will increase to 25% or 21%.
From the point of view of the appointments, Eugenio Andrades and Xavier Rossinyol, respectively president and CEO of the Swiss group will join the board of the new company, as well as Alessandro Benetton, at the head of the Holding company Edizione. Gianmario Tondato Da Ruos, current CEO of Autogrill, will take care of the American division, which currently sees the Hudson and Hms Host Autogrill businesses, two brands that make up half of the turnover for both. The operation will allow the birth of a new colossus, capable of responding to the needs of road tourism, offering important synergies in a post-pandemic restart moment.
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