Alpha Airports board consents Autogrill to go over the 30% threshold and indicates that it intends to recommend the offer
Milan , 04 June 2007- Autogrill S.p.A. (AGL IM) today is pleased to announce that, under Rule 5.2(b) of the City Code, it has received consent from the board of Alpha Airports Group PLc's (AAP LN) to acquire further shares at a price of 110 pence per share in cash, in addition to the shares Autogrill already owns, taking Autogrill’s aggregate interest in Alpha Airports to more than 30 per cent of the issued share capital of Alpha Airports. The board of Alpha Airports has indicated that it intends to recommend such offer.
Autogrill has acquired today 22,544,511 Alpha Airports shares, representing approximately 12.8 per cent of the issued share capital of Alpha Airports at a price of 110 pence per share in cash. Following this acquisition, Autogrill now holds 75,150,383 Alpha Airports shares representing approximately 42.7 per cent of the issued share capital of Alpha Airports.
Autogrill confirms that its most recent purchase of shares was at a price of 110 pence each and that this is the highest price paid by Autogrill for Alpha Airports’ shares in the last 12 months.
Autogrill is also pleased to confirm that as a result of the acquisition, and as required under Rule 9 of the City Code, it will be making a mandatory offer to all remaining Alpha Airports shareholders to acquire their shares at the same price of 110 pence per share in cash.
A further announcement will be made in due course.