Dufry Puts Up $452M To Round Out Hellenic Duty Free Stake

Law360, New York (December 12, 2013, 12:11 PM EST) -- Private equity-backed airport retailer Dufry AG will round out its stake in Hellenic Duty Free, Greece's top travel merchant, in a €328 million ($451.8 million) cash-and-stock deal that lifts ownership from rival Folli Follie SA, the company said Thursday.

Switzerland-based Dufry ponied up $258 million for a 51 percent Hellenic stake in October, saying at the time that it had the option to pick up the rest of the retailer in 2016. The company did not say when it plans to button up the deal....
To view the full article, register now.