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The European Commission announced August 13 that the purchase of Alpha Group by Italy’s Autogrill SpA “would not significantly impede effective competition” within the European Union giving the green light for a full buyout, which could be concluded completely within the next six weeks. Over the summer, Autogrill has acquired 97.8 percent of the Alpha’s share capital. The Milan-based Autogrill announced August 16 that it would begin the process of acquiring the remaining shares on the London Stock Exchange. The total purchase price is reportedly £192.8 million (US$382.3 million). EU regulators noted the business activities of the two companies in Ireland. There, Alpha operates the concession foodservices and Dublin Airport while Autogrill operates concessions at Shannon and Cork. But even with a combined 42 percent share of the airport concession market in Ireland, the EC concluded that since concessions are granted for a limited period with regular tenders “the proposed transaction does not raise any competition concerns.” The Benetton family owns a majority share of Autogrill. The company specializes airport concessions, motorway dining and duty free and duty paid operations through its partner company Aldeasa. Alpha Group operates travel retail and catering services at 47 airports in 13 countries. |
