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Call of Duty

30 March 2015 By Quentin Webb

The Swiss travel retailer will pay 3.6 bln euros with debt, or 13.8 times reported 2014 EBITDA, for Italian-listed World Duty Free. That’s bold as Dufry digests another big deal. Despite a big equity-raising backed by wealth funds, debt will hit a punchy 4.3 times EBITDA.

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