Conyers advised Dufry AG in connection with its proposed acquisition of all the equity interests in Hudson Ltd. It already ownsUS$7.70 in cash per Hudson Class A share corresponding to a total purchase price of approximately US$311 million.
The transaction is expected to close in the fourth quarter of 2020, and is subject to the approval by the holders of a majority of Hudson’s outstanding common shares present at a shareholder meeting of Hudson to be convened in due course.
Dufry is the leading global travel retailer operating over 2,400 duty-free and duty-paid shops in airports, cruise lines, seaports, railway stations and downtown tourist areas, in more than 420 locations in 65 countries across all six continents. Hudson, a Dufry Company, is a travel experience company turning the world of travel into a world of opportunity in more than 1,000 stores in airport, commuter hub, landmark and tourist locations.
Director Guy Cooper and Associate Edward Rance worked on the matter alongside David Polk.