Cleary Gottlieb is representing Lazard as financial advisor to the special committee of the board of directors of Hudson in the acquisition by Dufry of all of the outstanding shares of Hudson not already owned by Dufry.
Dufry will acquire the remaining outstanding shares of Hudson in an all-cash transaction worth $311 million. The merger agreement was signed on August 18, 2020, and is expected to close in the fourth quarter of 2020.
Hudson, one of the largest and most recognizable travel retailers in North America, owns and manages over 1,000 duty-paid and duty-free stores in 89 locations, including airports, commuter terminals, hotels, and some of the most visited landmarks and tourist destinations in the world.