Conyers advised Dufry AG (Dufry) and its subsidiary Hudson Ltd., on its US$748.9 million initial public offering of 39,417,765 Class A common shares. The shares were sold by Dufry International AG, a wholly owned subsidiary of Dufry, which also granted the underwriters an option to purchase up to an additional 5,912,664 shares to cover over-allotments, if any. The Class A common shares are listed on the New York Stock Exchange under the ticker symbol “HUD”.
Hudson Ltd. is a travel retailer whose brands include, amongst others, Hudson News, Nuance and World Duty Free. The group has almost 1,000 duty-paid and duty-free stores in 88 locations around the United States of America and Canada, including airports, commuter terminals, hotels and some of the most visited landmarks and tourist destinations in the world.
Guy Cooper of Conyers’ Bermuda office advised on the matter alongside Davis Polk & Wardwell LLP.