Dufry to acquire Italy's Autogrill, shares seen up
11/07/2022 07:50
** Shares in Dufry DUFN.S are seen up 6% pre-market as the
Swiss duty-free retailer is set to acquire Italy's Autogrill
AGL.MI
** Dufry will acquire Italian airport and motorway caterer
Autogrill, with Italy's Benetton family transferring its entire
50.3% stake to Dufry at an exchange ratio of 0.158 new Dufry
shares for each Autogrill share urn:newsml:reuters.com:*:nL1N2YR0GE
** Baader Helvea says the deal is a good strategic fit,
given that travel retail is an "economy of scale-game", where
size matters
** The brokerage adds that there is an overlap of
activities, which could be a good match
** "We believe that this transaction should help to
diversify both Dufry and Autogrill's existing businesses and the
combined entity should benefit from stronger landlord
relationships," RBC says
(Reporting by Bartosz Dabrowski)
((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))