Dufry and its subsidiary Hudson Ltd. successfully closed their previously announced merger on December 1, 2020.
The closing of the transaction follows a special general meeting of Hudson’s shareholders held on November 30, 2020, where Hudson’s share-holders voted to approve and adopt the merger by 98.59% of the votes cast at the meeting.
Following shareholder approval and pursuant to the terms of the Merger Agreement, Hudson became an indirect wholly owned subsidiary of Dufry. Hudson’s Class A shareholders are entitled to receive $7.70 in cash for each Class A share held.
In connection with the completion of the merger, trading in Hudson’s Class A common shares on the New York Stock Exchange was suspended on December 1, 2020, and the shares will be delisted in approximately 10 days.
Julian Diaz, CEO of Dufry Group commented: “The full reintegration of Hudson into Dufry is an important element in adapting the company to the new business environment and will allow us to reduce complexity, add agility in the decision-making process and reduce costs related to the separate listing. From a strategic perspective we will continue to focus on duty free and duty-paid travel retail as well as opportunities in alternative channels such as airport food & beverage operations.”