As expected, the Dufry Group has announced this morning that it has paid Brazilian minority partner the Brasif Group $162m for 20% of Dufry Lojas Francas (DLF).

 

The move effectively confirms Dufry as the 100% owner after exercising its earlier announced option to buy the minority interest for CHF.148m ($162.2m) yesterday. Dufry had a deadline of February 2015 to exercise this option.

DLF is Dufry’s operating entity for new duty free businesses in Brazil, which includes the duty free operations at Guarulhos Airport in Sao Paulo.

 

 

As reported in TRBusiness’ earlier report, a call option gives the shareholder the right to buy a stock from the investor – who originally sold the shareholder the stock – at a specific price (the strike price) on or before a specified date.

 

A put option gives the shareholder the right to sell a stock to the investor at a specific price, on or before a specified date.

 

To view the earlier TRBusiness’ story, click here: http://www.trbusiness.com/regional-news/the-americas/dufry-signs-extension-on-callput-option-to-buy-20-of-dufry-lojas-francas-in-brazil/