Global travel retailer Dufry has completed the previously announced merger with North American travel experience company Hudson.

In August, Dufry entered into definitive agreement to acquire all equity interests it does not already own in the travel company.

The completion of the deal follows Hudson’s shareholders’ special general meeting held virtually on 30 November.

The proposed merger agreement secured 98.59% of the votes cast at the meeting.

Hudson’s shareholders also voted to approve and adopt the related Statutory Merger Agreement between Hudson, Dufry AG and Dufry.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Under the agreement, Dufry will acquire the rest of Hudson Class A shares for $7.70 per share.

The shares on the New York Stock Exchange were suspended immediately and expected to be delisted in around ten days.

Additionally, Hudson became an indirect wholly-owned subsidiary of Dufry.

In 2018, Hudson sold 57.4% of its ownership to Dufry. The company operates more than 1,000 stores in airports, commuter hubs, landmarks and tourist destinations.

Dufry has more than 2,500 shops in 65 countries.

In October, Dufry entered into an agreement to create a joint venture with multinational technology company Alibaba Group to partner in the Chinese travel retail markets.

Dufry Group Julian Diaz CEO said: “We highly value this partnership with Alibaba Group to form a strategic Joint Venture to explore growth opportunities and develop the travel retail business in China. We expect this collaboration to drive growth in Asia and with Chinese customers worldwide with the support of new digital technologies.”