Hospitality sweethearts 14 February 2020 The couples who make working together and living together a love story
In this week's issue...Hospitality sweethearts The couples who make working together and living together a love story
Read More
Search
The Caterer

Autogrill launches £193m takeover of Alpha Airports

04 June 2007 by
Autogrill launches £193m takeover of Alpha Airports

Italian roadside services group Autogrill has made a formal offer for in-flight caterer and airport retailer Alpha Airports, valuing the company at more than £193m.

Following the purchase of 22,544,511 shares earlier today with the consent of Alpha's board of directors, Autogrill now has a shareholding in the company of approximately 43%.

The offer for the remaining shares values each at 110p and the company at £193.6m.

This represents a premium of more than 58% over the closing price of 69.5p on the 29 May, the last business day before Autogrill said it was reviewing its options in regards to Alpha and may make a bid.

Autogrill chief executive Gianmario Tondato said of the takeover offer: "Autogrill places significant importance on the UK and sees Alpha Airports as the right player to gain a meaningful exposure to this attractive market."

Martin Flower, chairman of Alpha, said the deal would allow the company to develop on a truly global scale.

The Italian roadside group has also entered into a non-binding agreement with Servair, which grants it exclusivity over the company's remaining 9.1% share holding in Alpha until 11 June.

Autogrill made an unsuccessful approach for Compass Group's SSP travel concession business, which went to private equity firm EQT.

By Chris Druce

E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=Autogrill launches £193m takeover of Alpha Airports) here.

[The Caterer Blog](http://www.caterersearch.com/blogs/catering-news-blog/) Catch up with more news and gossip on the Caterer Blog here
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!