Legal DealFolio - Dufry AG - Rights Offering of New Shares

Linklaters has advised the banks on a rights offering for Dufry AG, Switzerland. The rights offering is supposed to serve to finance a portion of the planned acquisition of the Nuance Group. Dufry expects to receive gross proceeds of approximately CHF 810 million. Linklaters has also advised the banks of the duty-free shop operator on the issue of mandatory convertible notes. The net proceeds of the issue are supposed to be used to fund in part the acquisition, as well. The joint bookrunners were Credit Suisse and Morgan Stanley, the co-bookrunners were Banco Santander, BNP Paribas, Deutsche Bank and UniCredit Bank AG. In the rights offering, rights have been issued for a total of 3,623,976 new shares at a price of CHF 162 each. This corresponds to 66.5% of the more than 5 million new shares offered in the rights offering to existing shareholders. The remaining 1.4 million shares were offered to investors by way of a public offering. The new shares have been traded on the SIX Swiss Exchange since 9 July. Dufry AG is a global travel retailer. The company listed on the stock exchange market and having its seat in Basel operates about 1,400 shops located at airports, seaports, cruise liners and other touristic locations in 47 countries worldwide. Founded in 1865, the group employs over 16,000 people and has generated sales of more than CHF 3.57 billion in the financial year 2013. The result of the planned acquisition of the Nuance Group is a duty-free giant with more than 1,750 shops in 63 countries. Dufry was advised on the two transactions by a Linklaters team led by Dr Marco Carbonare and Peter Waltz (both Capital Markets, Frankfurt). The team also included Cecil Quillen (Capital Markets, London), Caird Forbes-Cockell (Capital Markets, New York), William Cresswell (Capital Markets, Frankfurt), Andrew Morris, Shane Milam (both Tax, New York), Charles Eypper (Capital Markets, Frankfurt), Daria Latysheva (Capital Markets, Frankfurt), Stephanie Tennant, Derek Russell-Kraft and Kay Kim (all Capital Markets, New York).

Deal Date:	14-07-2014	Practice Area:	Equity Capital Markets
Deal Title:	Dufry AG - Rights Offering of New Shares	Industry:	Travel & Leisure
Description:	Linklaters has advised the banks on a rights offering for Dufry AG, Switzerland. The rights offering is supposed to serve to finance a portion of the planned acquisition of the Nuance Group. Dufry expects to receive gross proceeds of approximately CHF 810 million. Linklaters has also advised the banks of the duty-free shop operator on the issue of mandatory convertible notes. The net proceeds of the issue are supposed to be used to fund in part the acquisition, as well. The joint bookrunners were Credit Suisse and Morgan Stanley, the co-bookrunners were Banco Santander, BNP Paribas, Deutsche Bank and UniCredit Bank AG. In the rights offering, rights have been issued for a total of 3,623,976 new shares at a price of CHF 162 each. This corresponds to 66.5% of the more than 5 million new shares offered in the rights offering to existing shareholders. The remaining 1.4 million shares were offered to investors by way of a public offering. The new shares have been traded on the SIX Swiss Exchange since 9 July. Dufry AG is a global travel retailer. The company listed on the stock exchange market and having its seat in Basel operates about 1,400 shops located at airports, seaports, cruise liners and other touristic locations in 47 countries worldwide. Founded in 1865, the group employs over 16,000 people and has generated sales of more than CHF 3.57 billion in the financial year 2013. The result of the planned acquisition of the Nuance Group is a duty-free giant with more than 1,750 shops in 63 countries. Dufry was advised on the two transactions by a Linklaters team led by Dr Marco Carbonare and Peter Waltz (both Capital Markets, Frankfurt). The team also included Cecil Quillen (Capital Markets, London), Caird Forbes-Cockell (Capital Markets, New York), William Cresswell (Capital Markets, Frankfurt), Andrew Morris, Shane Milam (both Tax, New York), Charles Eypper (Capital Markets, Frankfurt), Daria Latysheva (Capital Markets, Frankfurt), Stephanie Tennant, Derek Russell-Kraft and Kay Kim (all Capital Markets, New York).
Financial Center:	Frankfurt	Value:	500.01-1000.00
Advised Party:	Lead Manager	Law Firm	Linklaters
Issuer Jurisdiction--	Germany	Listing Jurisdiction--	Germany
Classification:	Rights Issues	Lawyer	Marco G Carbonare

Practice Areas -

Equity Capital Markets Law Firms and Lawyers

Practice Areas - Equity Capital Markets Law Firms and Lawyers