Bulletin
Investor Alert

Oct. 20, 2020, 2:45 a.m. EDT

Alibaba takes 6.1% stake in travel retailer Dufry

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

By Pietro Lombardi

Chinese e-commerce giant Alibaba Group Holding Ltd. is taking a stake of 6.1% in Dufry AG as part of a roughly $900 million capital increase.

Alibaba and Swiss-based travel retailer Dufry disclosed plans to form a joint venture earlier this month to develop the business in China. The Chinese group will also invest CHF69.5 million in Dufry via convertible notes.

Also investing in Dufry is private-equity group Advent International Corp., which, after the capital increase is completed, will have a 11.4% stake.

Dufry said Tuesday that it expects to raise 820 million Swiss francs ($901.1 million) after it priced the new shares at CHF33.22 each.

Alibaba and Advent have agreed to a lock-up period of six months.

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.