Joint Financial Advisor in the strategic integration agreement between Autogrill and Dufry

Intesa Sanpaolo’s IMI Corporate & Investment Banking Division, leveraging its sectoral competences and long experience in M&A transactions, acted as Joint Financial Advisor for Autogrill together with Citigroup Global Markets Europe AG and Mediobanca Banca di Credito Finanziario in the definition of the strategic integration agreement with Dufry.

The agreement, announced by Edizione and Dufry, aims to create a global company in Food & Beverage and retail services for travelers: such business combination will be implemented by Edizione contributing its 50.3% stake in Autogrill into Dufry.

Upon completion of the contribution, a global player with combined revenues of more than EUR 12 billion and a combined EBITDA of about EUR 1.3 billion (2019 figures pre-pandemic) will be created with the aim of developing a new range of products and services while improving and innovating travellers’ customer experience.

At the closing of the contribution, Dufry will launch a mandatory public offer to exchange outstanding Autogrill shares for Dufry shares or, alternatively, for cash.

Edizione will become the largest shareholder of the new Group, holding a stake of approximately between 25% and 20% at the end of the transaction, depending on the level of subscription to the mandatory tender exchange offer.