Switzerland’s Dufry to buy Benettons’ Autogrill, forming $6 billion group

The Benettons, who management Autogrill, will switch their 50.3% stake to Dufry, receiving 0.158 new Dufry share for every Autogrill share, in line with an announcement early Monday. The Italian household will personal as a lot as 25% of the group after the mix.

Dufry, the world’s greatest duty-free group, will than bid for the remainder of Autogrill, with buyers receiving both 0.158 new Dufry share or ₹6.33 ($6.4253) in money for every share within the Italian firm. The money provide would worth the Italian firm at about ₹2.44 billion.

Dufry and the Benettons have been speaking a couple of potential tie-up for months, following a sequence of casual approaches over the previous few years.