Davis Polk is advising Dufry AG in connection with its proposed acquisition of all the equity interests in Hudson Ltd. it does not already own for $7.70 in cash per Hudson Class A share corresponding to a total purchase price of approximately $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.

The Davis Polk corporate team includes partner Daniel Brass and associate Michael Gilson. Partner John B. Meade and associate Stephen A. Byeff are providing capital markets advice. Partner Jeffrey P. Crandall is providing executive compensation advice. All members of the Davis Polk team are based in the New York office.