Autogrill considering growth options, Benettons could cut stake
The Benettons are seeking a partner to help expand Italian highway restaurant chain Autogrill [AGL:MI], according to a newswire report.
Bloomberg reported, citing people close to the matter, that the controlling shareholders have held primary talks with advisors to discuss options for partnerships or acquisitions. A deal with a chain beyond the highway business is an option.
The advisors have already pitched several M&A prospects, and the family might make a decision about a deal in 2016, the article said. The Benettons might also consider decreasing their holding of 50% in Autogrill.
The family is the process of reforming its holding company, Edizione, worth USD 12bn (EUR 10.7bn).
Autogrill has a market cap of EUR 1.74bn.
This news service reported in June 2015 that Autogrill could unlock more value for shareholders by separating its airport and highway concessions units than by simply spinning off its US subsidiary HMSHost.
Analysts had called on the company to unlock value by spinning off HMSHost, which is based in Bethesda, Maryland.
Edizione Chairman Gilberto Benetton told Autogrill's AGM in May that the holding company was struggling to find a partner for Autogrill as there were no easy matches in the food and beverage sector.
Autogrill could consider a potential merger with an international company, according to a report by La Repubblica Affari e Finanza citing Gilberto Benetton.
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