World Duty Free Europe
Dufry announces that it has entered into a binding agreement with Edizione S.r.l. ('Edizione') to acquire its 50.1% stake in World Duty Free S.p.A ('WDF'). Following completion of the transaction with Edizione, Dufry will launch a mandatory tender offer for the remaining 49.9% outstanding WDF shares.
World Duty Free Europe Hounslow Gb
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The combination with WDF will enhance Dufry's global position in the travel retail industry. Dufry expects to generate synergies of up to EUR 100 million1. On a pro forma combined basis, once fully integrated and including planned synergies, Dufry would have generated a turnover of CHF 7.8 billion in 2014 and an EBITDA of more than CHF 1 billion2. The transaction is expected to be value accretive to Dufry shareholders, resulting in a double-digit cash EPS accretion from the second year post-acquisition. Dufry announces that it has entered into a binding agreement with Edizione S.r.l.
('Edizione') to acquire its 50.1% stake in World Duty Free S.p.A ('WDF'). Following completion of the transaction with Edizione, Dufry will launch a mandatory tender offer for the remaining 49.9% outstanding WDF shares. The combination with WDF will enhance Dufry's global position in the travel retail industry. Dufry expects to generate synergies of up to EUR 100 million 1. On a pro forma combined basis, once fully integrated and including planned synergies, Dufry would have generated a turnover of CHF 7.8 billion in 2014 and an EBITDA of more than CHF 1 billion 2.
The transaction is expected to be value accretive to Dufry shareholders, resulting in a double-digit cash EPS accretion from the second year post-acquisition. Strategic rationale • The combination with WDF will further enhance Dufry's global position in the travel retail industry and the combined entity will be present in 67 countries and reach a market share of approx.