1. News
June 29, 2022

Dufry and Autogrill confirm negotiations over possible merger

The merger would create a travel chain with annual revenues of around €6.3bn.

Switzerland-based travel retailer Dufry and Italian catering company Autogrill have confirmed talks on a merger deal to create a ‘travel retail giant’.

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The confirmation comes after Bloomberg reported that the two companies were in an ‘advanced stage of discussions’ and an agreement could be signed soon.

In a statement, Autogrill said: “With reference to today’s press rumours related to a possible transaction involving an industrial combination with the Dufry Group, Autogrill announces, to the extent of its competence and also on the basis of the information received from the controlling shareholder Edizione, that there are ongoing discussions, without any exclusivity, regarding a possible integration between the two groups.”

The company restated that it is interested in evaluating strategic opportunities to develop and create value for all its stakeholders.

It added: “Autogrill will promptly inform the market if the legal requirements are met.”

If the deal is executed, it could create a travel chain with annual revenue of around €6.3bn, according to Reuters.

Sources said that under the proposed deal structure, Dufry would pay in shares to acquire Autogrill.

In a statement, Dufry said: “In light of recent media reports and market speculations, Dufry confirms that it is involved in discussions regarding a possible transaction involving Autogrill.

“Dufry regularly examines its strategic options. However, at the moment, there is no certainty that any of these discussions will result in any transaction, nor with regard to its nature, terms and conditions.

“Dufry will keep the market informed if and when appropriate.”

Bloomberg reported that Autogrill’s largest investor, the Italy-based Benetton family, would become the top shareholder in the merged entity, holding a 20% stake.

Following the confirmation of merger talks, Autogrill’s shares increased by 5% on 29 June, while Dufry’s were up by 3.6%.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.