Swiss travel retail giant Dufry has agreed to buy the rest of Hudson for $7.70 per share in an all-cash deal worth around $311 million. Dufry currently owns 57.4% of the US firm. This will delist Hudson from the NYSE.
Swiss travel retail giant Dufry AG on Wednesday launched a restructuring programme designed to cut its staff costs as it works to protect its business following the effects of the coronavirus outbreak globally.
Dufry, the world’s largest duty free retailer, has cancelled its planned dividend for 2020 in a move to radically reduce short-term cash outflows; and announced plans to sell 5.5 million shares in a private placement.