PR: Dufry and Alibaba form strategic JV in China

PRESS RELEASE 

Dufry and Alibaba Group have agreed to form a strategic Joint Venture in China and Alibaba Group plans an equity investment in Dufry with a target ownership of up to 9.99% of the post-offering share capital

Dufry has agreed to form a Joint Venture with Alibaba Group to partner in the Chinese travel retail markets

Partnership brings together Alibaba Group’s leadership in Chinese consumer retail and digital transformation with Dufry’s global travel retail expertise

Alibaba Group plans an equity investment in Dufry with a target ownership of up to 9.99% post capital increase

Based on Alibaba Group’s commitment, Dufry proposes to the upcoming Extraordinary General Meeting (EGM) on 6 October 2020 to issue up to 25 million shares, resulting in a potential issue size of approximately CHF 700 million

Extension of deadline to vote at the EGM to 5 October 2020, 6pm CEST

To read the full release, please click here.

BABA flattish in early trade on Monday.