Dufry closes the acquisition of The Nuance Group

On September 9, Dufry AG closed the acquisition of The Nuance Group AG based on a consideration of CHF 1.55 billion, on a debt- and cash-free basis. The combination of both companies will confirm Dufry as the global leader in the travel retail industry with presence on 5 continents and in 63 countries, as well as at 239 airports, managing and operating close to 1,750 shops. The transaction-related funding was secured through a mix of debt financing, issuance of new share capital, of mandatory convertible notes and senior notes.

Dufry AG is advised as to Swiss law by Homburger on this transaction. The Homburger team is led by partner Frank Gerhard (Corporate / M&A) and comprises partners Jürg Frick (Financial Services), Gerald Brei (Competition), Balz Gross (Litigation, Employment) and Stefan Oesterhelt (Tax), counsels Micha Fankhauser (Corporate / M&A), Roger Zuber (Litigation, Employment) and Eduard de Zordi (Financial Services) and associates Marco Toni (Corporate / M&A, Employment), Kerstin Schiwow-Amrhein (Competition), Matthias Maurer (Corporate / M&A), Andreas Müller (Corporate / M&A), Guy Deillon (Corporate / M&A) and junior associate Daniel Lütolf (Corporate / M&A).