There will be more time to decide whether to join the mandatory takeover bid launched by dufry on the ordinary shares of Rest.
The Swiss company announced today that the closing of the public exchange offer (OPS), which was originally scheduled for May 15, 2023, has been moved to May 18, 2023. extension, reads a note, serves to allow Autogrill shareholders to benefit from a wider period of time to examine the Consolidated Revenues data as of March 31, 2023 which will be published by Autogrill on May 9, 2023 and the Trading Update of the 1st quarter 2023 to be published by Dufry on May 10, 2023.
The offer proposes 0,1583 shares of Dufry common stock newly issued for each Autogrill share or, alternatively, 6,33 euros for each share brought into membership. The choice will be at the discretion of each participating Autogrill shareholder.
The Payment Date (originally set for 23 May 2023, the sixth trading day following the end of the subscription period) is set for 25 May 2023, i.e. the fifth trading day following the end of the subscription period, as extended.
The details of the takeover bid
Last February 3rd, Edition ha completed the transfer of 50,3% of Autogrill to the Swiss Dufry, a share functional to the by now famous marriage which will lead to the birth of a new global player in the sector of catering and retail services for travellers. The combined entity will serve more than 2,3 billion travelers in 75 countries, employing approximately 60 people in 5.500 points of sale in 1.200 airports and other locations. Based on forecasts, total revenues will amount to approximately 14 billion euros, while ebitda will be approximately 1,3 billion (pro forma 2019).
The offer "is aimed at promoting the strategic integration objectives of Dufry and Autogrill, with the prospect of creating a global group in the travel retail and travel food & beverage (F&B) sectors," the company said.
