Combination between Dufry and Autogrill successfully closed - Seite 2

I am looking forward to working together as a strong team combining the know-how and – above all – the passion of the Dufry and Autogrill colleagues. We will leverage our mutual skills to develop more compelling offers for our customers and build the next generation of travel experience together. I am grateful to Dufry’s and Autogrill’s employees for their tireless work and significant contributions in bringing our joint vision to life.”  

Alessandro Benetton, Chairman of Edizione, commented: “Edizione, an Italian industrial holding company and now Dufry's largest shareholder, considers its shareholding in Dufry strategic, as are Atlantia and Benetton Group; as such, Edizione will give its maximum strategic, financial and operational support to this important project, in particular by focusing its commitment on three essential themes: sustainable growth, attention to the many people who work daily in the organization and compelling international vision.

I would like to extend my sincere thanks to the outstanding Edizione and Dufry teams who worked on the transaction.”

COMPLETION OF TRANSFER

In accordance with the Combination Agreement entered into on July 11, 2022, and in consideration for the transfer of the 50.3% stake in Autogrill to Dufry, Edizione (through its wholly owned subsidiary Schema Beta S.p.A.) was issued mandatory convertible non-interest bearing notes convertible into an aggregate of 30,663,329 newly issued Dufry shares, at an implied exchange ratio of 0.158¹ new Dufry shares for each Autogrill share. Edizione exercised its conversion right following closing of the transfer and was issued 30,663,329 Dufry shares (equal to 25.246% of Dufry's registered share capital). Considering the additional Dufry shares acquired on the market between the signing and the closing by Edizione, the latter holds a stake of about 27.5% of Dufry's registered share capital.

 

FULL AUTOGRILL CONSOLIDATION AS OF FEBRUARY 1, 2023

 

Dufry will start to fully consolidate Autogrill from February 1, 2023 onwards and the integration process is about to be launched.