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Dufry to buy Italy's World Duty Free in deal valued at 3.6b euros

Transaction will create world's biggest travel retailer; Dufry to purchase 50.1% stake in WDF at 10.25 euros per share

Published Sun, Mar 29, 2015 · 09:50 PM
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Milan

SWITZERLAND'S Dufry has agreed to buy a majority stake in World Duty Free (WDF) in a deal which values the Italian firm at 3.6 billion euros (S$5.4 billion) and will make the combined group the world's biggest travel retailer.

Edizione, the holding company owned by the Benetton family and controlling WDF, said on Saturday it was selling its 50.1 per cent stake in the group to Dufry for 10.25 euros per share.

It said proceeds from the sale would total 1.3 billion euros, valuing the whole group at just under 3.6 billion euros af…

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