Advent to sell shares in airport retailer Dufry

Advent appointed Morgan Stanley as bookrunner to sell the shares, according to media reports. Given Dufry's closing share price of CHF 119.10, Advent's 13% stake would be worth CHF 462m (€374m).

Advent acquired a 75% stake in Dufry in February 2004 for €161m. The duty free retailer was listed on the Swiss Stock Exchange in December 2005, rasing €210m. In 2008, Advent merged the business with American travel retailer Hudson through a share swap.

Dufry operates more than 1,200 shops in 45 countries worldwide. Founded in 1865 in Basel, it is now listed on stock exchanges in Switzerland and Brazil. The company's current market-cap amounts to CHF 3.48bn.

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• Topics
• DACH
• Consumer
• Exits
• Switzerland
• Advent International
• Morgan Stanley