HUD - Alibaba purchasing up to 10% Dufry stake funding Hudson buy out

Alibaba (BABA) will purchase up to a 9.99% stake in Swiss duty-free retailer Dufry, participating in a new $763M fundraising round.Dufry and Alibaba will also form a joint venture combining the tech giant's digital expertise with Dufry's travel retail business.The retailer is seeking funds after taking a major hit during the pandemic. Alibaba has increased its brick-and-mortar investments as a way to use its tech in physical locations.PE firm Advent international will invest as much as $497M in Dufry.Dufry will use the proceeds to buy out the rest of its Hudson (HUD) unit for $311M to simplify the company's corporate structure. The action will delist Hudson from the NYSE.Previously: Hudson higher on take over offer of $7.70/share from its controlling shareholder (Aug. 19 2020)

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Alibaba purchasing up to 10% Dufry stake, funding Hudson buy out