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Switzerland: Dufry snaps up Italian Duty Free rival

By  |  March 29, 2015

Switzerland’s Dufry has agreed to buy a majority stake in World Duty Free in a deal which values the Italian firm at 3.6 billion euros and will make the combined group the world’s biggest travel retailer.

Edizione, the holding company owned by the Benetton family and controlling World Duty Free, said on Saturday it was selling its 50.1 percent stake in the group to Dufry for 10.25 euros per share.

The closing of the sale, expected in the third quarter, is subject to the approval by Dufry’s shareholders of a capital increase aimed at partially financing the transaction and the approval of antitrust authorities.

 

Full Content: The Wall Street Journal

 

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