Slaughter and May, working as a team with Wachtell, Lipton, Rosen & Katz, Homburger AG and Karatzas & Partners, is advising Dufry, a leading global travel retailer, on financing agreed in connection with the acquisition of the remaining 49% stake of Hellenic Duty Free ('HDF') from Foli Follie Group for EUR 328 million (CHF 401 million) in cash and shares.

On 12 December 2013, Dufry announced that it had entered into a new EUR 500 million (CHF 611 million) term loan with a group of banks for a term of 5 years. The proceeds of the financing will be used to finance the EUR 175 million (CHF 214 million) cash element of the acquisition and repay HDF’s local bank financing in Greece of EUR 335 million (CHF 409 million).

Slaughter and May also advised on the financing for the acquisition of the 51% stake in HDF on 10 October 2012 which was the first step of this transaction.

HDF is the leading travel retailer in Greece.

Wachtell, Lipton, Rosen & Katz is advising on U.S law, Homburger AG is advising on Swiss law and Karatzas & Partners is advising on Greek law.

Contacts

Financing: Matthew Tobin (partner), Andrew Williams (associate)

Wachtell, Lipton, Rosen & Katz: Gordon Moodie (partner), John Robinson (associate), Matthew Danzig (associate)

Homburger AG: Frank Gerhard (partner), Jürg Frick (associate), Andreas Müller (associate), Matthias Maurer (associate)

Karatzas & Partners: Christina Faitakis (partner), Vassiliki Salaka (partner), Vasilios Douzenis (associate)