Autogrill joins Aldeasa bidding

Gavin Lipsith

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The Italian firm has trumped Dufry Group's offer for the Spanish retailer in a bid tabled after discussions with Aldeasa stakeholder Altadis

Italian catering firm Autogrill has tabled a Eu33 ($43) per-share bid for Spanish operator Aldeasa, trumping Dufry Group's bid of Eu31 ($40.3). The Autogrill bid was tabled in agreement with Aldeasa's principal shareholder Altadis, the Franco-Spanish tobacco manufacturer. If the deal is accepted, Altadis will exchange its share in Aldeasa for a 50% in Retail Airport Finance, the company created by Autogrill to table the bid.

Autogrill operates food & beverage and catering outlets in 96 airports throughout Europe and North America, and owns the US-based concessionaire HMSHost.