(Tiper Stock Exchange) – Editionthe majority shareholder of Autogrill, has completed the transfer of its share equal to 50.3% of Autogrill functional to strategic business combinations between the Italian company and Switzerland Dufry, which leads to the creation of a new global player in the catering and retail services sector for travellers. L’combined entity will target over 2.3 billion travelers in 75 countries, employing approximately 60,000 people in 5,500 points of sale in 1,200 airports and other locations, with revenues a total of 14 billion euros and a EBITDA approximately 1.3 billion (pro forma 2019).
“Thanks to this industrial integrationtwo companies that are already international leaders in their reference sectors will create a global champion in commercial and catering activities at the service of travelers – he commented Alessandro Benettonpresident of Edizione – In the years to come, the combined entity will in fact represent the ideal platform for seizing growth opportunities also thanks to new ideas and new services”.
“Edizione, as an Italian company and first shareholder of Dufry, he considers his participation strategicas are Atlantia and Benetton Group and is ready to give maximum strategic, financial and operational support to this great project”, he added.
Edizione received 30,663,329 Dufry shares (equal to 25.246% of the share capital) through a non-interest bearing bond loan convertible into shares, according to the July 2022 agreements. Considering the additional Dufry shares purchased on the market between the signing and the closing, Edizione holds one share of 27.5%, thus becoming the main shareholder. Dufry will launch, on the remaining ordinary shares of Autogrill, aPublic Exchange Offer mandatory: 6.33 euros or 0.1583 Dufry shares will be offered for each Autogrill share. Depending on the levels of membership in the OPS, Edizione will hold between 27.5% and 22% of Dufry’s share capital.
Under the agreements, Alessandro Benetton becomes Honorary Chairman with the task of promoting and coordinating, together with the Chairman of Dufry, the institutional relations between the main shareholders and the strategies. Henry Lakes assumes the position of Vice-Chairman, supporting the CEO, for Group integration issues and relations with the BoD on these issues.
With regards to the managers of Autogrill, Gianmario Tonto da Ruos (who held the position of CEO of the Italian company) will assume the position of Executive Chairman of all the North American activities of the new group, while Paul Roverato the office of chief executive officer of Autogrill SpA.