Milan, 16 March 2005 - Autogrill S.p.A. (Milano: AGL IM) enters Frankfurt Airport, Europe’s second busiest, by acquiring 49.9% of Steigenberger Gastronomie G.m.b.H., the German hub’s traditional catering operator.
Through Autogrill Deutschland G.m.b.H., Autogrill today signed a sale and purchase agreement with Steigenberger Hotels AG, a leading German hotel group, to acquire a minority stake in the wholly-owned subsidiary Steigenberger Gastronomie, with an exclusive call option on the remaining 50.1% to be exercised between 1st January 2007 and 31st December 2009.
Under the terms of the agreement, Autogrill will pay €2.75m for the 49.9% share of the company and subsequently a variable price of up to €1.25m tied to the renewal of some concessions soon to expire.
Effective as from November 1st, 2023, the company Autogrill S.p.A. was merged into the company World Duty Free S.r.l., which at the same time was transformed into a joint-stock company with the name World Duty Free S.p.A..
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As a result of the aforementioned corporate transaction, the content and information published on this website are intended to be current as of November 1, 2023, after which they have not been updated.
For information and updates regarding Autogrill's Italian business, please consult the official website of Autogrill Italia S.p.A., available at www.autogrill.it