Dufry to Buy Benettons’ Autogrill, Forming $6 Billion Group
- Italian billionaire family to become major investor in Dufry
- Dufry to bid for whole company following the transaction
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Switzerland’s Dufry AG agreed to buy Autogrill SpA from the Italian billionaire Benetton family, creating a new $6 billion player in the travel retail market.
The Benettons, who control Autogrill, will transfer their 50.3% stake to Dufry, receiving 0.158 new Dufry share for each Autogrill share, according to a statement early Monday. The Italian family will own as much as 25% of the group after the combination.