Dufry AG

Dufry AG to buy WDF

Dufry AG to buy WDF

Dufry AG provided details about its plans for its takeover of World Duty Free SpA (WDF). The company stated it has planned to consolidate its position as the biggest player in the sector. On Monday, Switzerland headquartered company announced that it has expected to raise about 2.1 billion euros through a rights issue of new stock. The company also said that it expects to raise about 1.5 billion euros through long-term debt instruments.

According to reports, the combined companies will have market share of about 25% and the projected annual sales about $9 billion. WDF has more than 490 stores in about 98 airports, including London's Heathrow and Gatwick.

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