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Enterprising Investor

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Wednesday, 01/04/2017 7:35:00 PM

Wednesday, January 04, 2017 7:35:00 PM

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Autogrill sells its hotel and restaurant operations in Dutch motorway service areas for €22.7m (11/04/16)

Autogrill (Milan: AGL IM) and Gr8 Investments B.V. announce the closing today of a transaction transferring to the latter the Autogrill’s entire participation in Autogrill Nederland B.V., a company that operates hotels and restaurants in a number of Dutch motorway service areas, with annual revenues of around €33m.

The value of the transaction is €22.7 million.

On 30 August, Autogrill announced that it had received from Gr8 Investments B.V. an offer to buy the aforementioned business. Following completion of disclosure to and consultation with employee representatives, the transaction was approved by the Board of Directors of Autogrill S.p.A.

http://www.autogrill.com/en/press-releases/autogrill-sells-its-hotel-and-restaurant-operations-dutch-motorway-service-areas

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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