Swiss swallow Italians
Supervisor approves Dufry acquisition of Autogrill
The takeover of the Italian Autogrill group by the travel retailer Dufry is progressing. Dufry announced on Friday evening that all approvals for the planned merger, including those of the competition authorities, were granted without conditions.
An Autogrill rest stop in Bavois between Yverdon and Lausanne. (archive image)
Dufry and the holding company Edizione now expect to complete the transfer of Edizione’s 50.3 percent stake in Autogrill to Dufry by early February 2023. Edizione is the investment company of the Benetton family.
The merger of Dufry and Autogrill was announced last July. In this context, the Italian Benetton family is to transfer its stake in Autogrill to the travel retailer through its company Edizione in exchange for 30.7 million new Dufry shares. This makes it the largest shareholder in the Basel company, with a stake of between 20 and 25 percent.
The combined company, to be led by Dufry boss Xavier Rossinyol, is expected to serve around 2.3 billion passengers and generate combined sales of 13.6 billion Swiss francs. It will have over 5,500 points of sale, mainly at 350 airports, and will employ almost 60,000 people.