Dufry Shares (DUFN) Gained 8%: Here’s Why

Briefly-

  • Dufry to acquire the Benetton family’s Autogrill SpA.
  • Benetton owns a 50.3% stake in Autogrill SpA.
  • Travel retail company for the combined (two) worth $6B.

Dufry AG saw its share price gaining 8% after accepting to buy Autogrill SpA from Benettons to build a $6B enterprise within the retail and travel sector.

Benetton Family’s 50.3% Autogrill Stock


Bitcoin Revolution is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. 


The Monday report shows the Benettons, who control 50.3% of Autogrill, will relinquish ownership to Dufry. The Benetton family will receive 0.158 of Dufry’s new shares for each Autogrill share (in exchange). The merger might see the Italian family owning around 25% of the firm.

Dufry, the leading duty-free corporation globally, will make offers for the outstanding Autogrill shares. Stakeholders will receive 6.33 pounds ($6.4253) in cash or 0.158 new DUFN for each share by the Italian firm. The cash deal will see the Italian company worth about 2.44 billion pounds.

The Benettons and the Basel-based company have been discussing a potential alliance for months. Bloomberg News first revealed the deal in April. The updates disclosed that the two had multiple informal attempts within the past few years (to ally). Small investor bid prices are lower than Autogrill’s Friday closing price.

The Combined Firm Was Worth $6B When Disclosing the Deal

The travel retail company that would emerge following the Dufry and Benettons combination boasted an overall market cap of about $6 billion. Meanwhile, Dufry’s chief executive officer Xavier Rossinyol will head the combined firm.

Alessandro Benetton, who started managing the family firm Edizione Holding SpA in early 2022, has conducted two substantial transactions over the past few weeks, the initial being the Dufry merger. Meanwhile, Dufry will choose Alessandro Benetton as the honorary chair. Also, two of the family’s execs will assume vice-chair roles.

Autogrill CEO Gianmario Tondato will oversee North American business operations. Moreover, Rossinyol confirmed plans to transform the industry and redefine its limits. He added about introducing a new corporate identity that will reflect the fundamental move.

The tourism industry has been reviving from the challenging two-year phase, and air travel numbers are approaching pre-pandemic counts, despite the latest turmoil in European airports.

Feel free to share this article.


start trading

Best Forex World is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (not all) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.


Previous post Dollar Falls As Rate Hike Bets Fall
Next post UK Stocks End Week Lower As Growth Problems Mount