Milano , 05 February 1999 - The Autogrill Group is strengthening its position in Spain: its Spanish subsidiary Autogrill España announced today that it had raised its stake in the Procace motorway restaurant company from 50% to 100% by buying out the shareholding of Cepsa, Spain's secondlargest oil company.
The transaction is worth 1.1 billion pesetas, or 6.6 million euros and approximately 13 billion lire.
Procace runs a total of 15 Autogrill restaurants and bars on Spain's autopistas (toll roads) and autovias (freeways). Autogrill España directly controls another 29 outlets: the 1998 chain revenues of the 44 restaurants and bars totalled approximately 90 billion lire, for a 34% share of the motorway restaurant market.
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