(Alliance News) - Dufry announced that it holds about 87 percent of the shares in Autogrill Spa after the conclusion of the May 18 takeover bid.

Of the shares tendered, nearly 99 percent opted for the share consideration of 0.1583 new Dufry shares for each Autogrill share. Only 1.4 percent chose the cash alternative of EUR6.33 per share. Based on the preliminary results, Dufry plans to issue about 22.1 million new shares, with the first day of trading expected to be May 25.

As reported, Autogrill has been consolidated into Dufry since February after the transfer of Edizione Spa's 50.3 percent stake, which was the first phase of the transaction.

Autogrill's stock is up 4.2 percent at EUR7.23 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.