Autogrill to acquire Host Marriott Services

 

Monday, July 26, 1999

Milano , 26 July 1999  - The Board of Directors of Autogrill (AGL.IM) today announced that it approved a definitive agreement to acquire all of the outstanding common stock of Host Marriott Services (NYSE: HMS). The acquisition will create the leading global operator of commercial catering for travelers with operations in North America, Europe, Australia and Asia and annual sales of over US$2.6 billion/Euro 2.4 billion based on 1998 data. The combined company will operate facilities in over 834 sites in five primary business segments: airports (76), travel plazas (609), shopping malls (66), railway stations (21) and quick service restaurants (46). In addition the group will operate (16) facilities in other segments. The transaction has been unanimously approved by the Board of Directors of Host Marriott Services which will recommend the transaction to its shareholders. It remains subject to receipt of customary regulatory approvals.