Davis Polk advised Dufry AG (Dufry) and its subsidiary, Hudson Ltd., in connection with the $748.9 million initial public offering of 39,417,765 Class A common shares of Hudson Ltd. The Class A common shares were sold by Dufry International AG, a wholly owned subsidiary of Dufry. Dufry International AG granted the underwriters an option to purchase up to an additional 5,912,664 Class A common shares of Hudson Ltd. to cover over-allotments, if any. The Class A common shares are listed on the New York Stock Exchange under the symbol “HUD.”
Hudson Group is a travel retailer, with nearly 1,000 duty-paid and duty-free stores in 88 locations in the continental United States and Canada, including airports, commuter terminals, hotels and some of the most visited landmarks and tourist destinations in the world. Hudson Group’s wide range of store concepts include travel essentials and convenience stores, bookstores, duty-free shops, branded specialty stores, electronics stores, and quick-service food and beverage outlets.
Based in Basel, Switzerland, Dufry is a global travel retailer with more than 2,200 stores in 64 countries combining strong positions in emerging markets with prime operations in developed markets.
The Davis Polk corporate team included partner John B. Meade, counsel Yasin Keshvargar and associate Stephen A. Byeff. Partners Michael Mollerus and Jonathan Cooklin and associates Christopher A. Baratta and Dominic Foulkes provided U.S. and U.K. tax advice. Partner Jean M. McLoughlin and associate Timothy John Durbin provided executive compensation advice. Litigation advice was provided by partner Michael S. Flynn and counsel Brian M. Burnovski. Members of the Davis Polk team are based in the New York and London offices.