Autogrill S.p.A. (Milan: AGL IM) announces that today has finalized the transfer to World Duty Free Group of the travel retail activities located in the airports of Atlanta and Oakland and in the Empire State Building.
The transfer completes the transaction finalized and disclosed to the market on September 6th, 2013, according to which the controlled company HMSHost Corporation transferred to World Duty Free Group the travel retail activities in the United States. The transfer of the three remaining travel retail activities takes place right after the required authorizations from the licensors. The price agreed by the parties is equal to USD 19 million.
Autogrill S.p.A. and World Duty Free S.p.A. are both under common control. The transfer of the remaining part of the travel retail activities in the United States, according to the economic terms of the transaction, may be deemed as a related party transaction of lesser importance carried out by Autogrill S.p.A. through the controlled company HMSHost. Such transaction has been examined by the Board of Directors of Autogrill S.p.A., after obtaining a prior, non binding, favourable opinion from the Related Parties Transactions Committee of Autogrill S.p.A.