Swiss-based travel retailer Dufry AG (DUFN) agreed on a deal to purchase the rest of its Hudson Ltd (HUD) unit. In the deal, Dufry will buy Hudson’s stock at $7.70 per share which will sum up to around $311 million.
Thereafter, Hudson will be delisted from the New York Stock Exchange.
“The delisting of Hudson is part of Dufry’s current re-organization and is intended to further simplify its corporate structure and align its operations to the new business environment,” said Dufry.
Currently Dufry owns 57.4% in Hudson the company says the upcoming acquisition will represent a 50.1% share premium of Hudson’s share closing price on August 18.
Hudson runs over 1,000 in airports, tourist destinations, landmarks and commuter hubs. Without a doubt the pandemic has indeed affected its operations since travelling has been reduced significantly all over the world.