Advent Plans $477M Stock Sale To Exit Airport Retailer Dufry

Law360, New York (January 16, 2013, 1:58 PM EST) -- Boston private equity firm Advent International Corp. is selling the last of its stake in Swiss airport retailer Dufry Ltd. for about 442 million Swiss francs ($476.5 million), it said Wednesday, exiting the company nearly eight years after it took over majority ownership.

In the stock sale, Advent unloaded about 3.9 million shares, roughly 13 percent of the company's units. The purchase price, 114 Swiss francs per share, is a 4.3 percent discount to Tuesday's close. Morgan Stanley is the sole bookrunner in the sale, Advent...
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