Dufry to extend Autogrill offer as inches closer to delisting (updated)

Autogrill SpA

18/05/2023 19:13

(Adds details from source, background)
       MILAN, May 18 (Reuters) - Swiss duty-free retailer
Dufry's  DUFN.S  offer for Autogrill  AGL.MI  has secured shares
accounting for around 87% of its capital, Reuters calculations
based on bourse data showed on Thursday, moving closer to
delisting the Italian group. 
    Dufry said it aimed to delist Autogrill shares from Euronext
Milan, which requires it to get to 90% of the Italian group. 
    "The offer will be reopened for a further 5 days in order to
give Autogrill shareholders an additional window to tender their
shares," a source close to Dufry told Reuters.   
    Borsa Italiana said that, according to provisional data, the
take-up in the offer for Autogrill reached 74.3% of the shares
targeted by the bid. 
    Earlier this year, Dufry completed the acquisition of a
50.3% stake from Benetton family holding Edizione, which became
the Swiss group's largest shareholder. 
    Dufry later tendered for the remaining Autogrill shares,
offering 0.158 new Dufry shares for each Autogrill share or 6.33
euros for each share in the Italian group.
    Alternatively, it said it could take the company private
through a merger.  

 (Reporting by Elisa Anzolin; Editing by Federico Maccioni and
Alexander Smith)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))