Homburger advised Dufry on the CHF 415 m equity investment commitment from Advent International in the context of the planned rights offering.
Dufry AG announced that it will convene an extraordinary general meeting to approve an ordinary capital increase for a rights offering targeting gross proceeds of approximately CHF 500 m. The envisaged proceeds are planned to be used to finance the previously announced acquisition of all remaining equity interest in Hudson Ltd. and for general corporate purposes.
In this context, Dufry has secured a CHF 415 m equity investment commitment from funds managed by Advent International Corporation and its affiliates to purchase offered shares not taken up by existing shareholders at a fixed subscription price of CHF 28.50 per share, even if the offer price determined in the bookbuilding procedure is below CHF 28.50. If the offer price so determined is above CHF 28.50, Advent International’s commitment is no longer valid and it has no obligation to purchase offered shares.
Homburger acts as counsel to Dufry on the deal with a team led by partners Frank Gerhard (Picture) and Andreas Müller and comprised associates Marc Hanslin and Carlo Sulser and junior associate Daniel Madani (all Capital Markets; Corporate | M&A) as well as partner Richard Stäuber (Competition | Regulatory).
Law Firms: Homburger;
Clients: Dufry AG;