Dufry raises Sfr820m with backing from Alibaba, Advent

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By Aidan Gregory
20 Oct 2020

Swiss duty free operator Dufry has finished its Sfr820m at-market rights issue, which has enabled Advent International and Chinese e-commerce firm to take large strategic stakes in the company.

The transaction also evolved at the last minute to include a Sfr69.5m mandatory convertible bond issued directly to Alibaba, on top of the company’s strategic equity investment in Dufry.

“It started off as a Sfr300-350m capital raise to buyout Hudson and then with that it became clear ...

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