Italy's Autogrill starts business in Russia
MILAN, Sept 5
MILAN, Sept 5 (Reuters) - Autogrill SpA, the world's biggest operator of shops at airports, said on Thursday it had set up a company in Russia to run food and beverage business at the airport of St. Petersburg.
In a statement the Italian company said it had set up Autogrill Russia with the Russian companies Novikov Group and Ginza Project.
The new company, which will operate eight points of sale in the airport for seven years, is expected to generate revenues of around 130 million euros ($172 million) in the period 2014-2021.
Autogrill Russia will be 60 percent owned by the Autogrill group. ($1 = 0.7577 euros) (Reporting by Stephen Jewkes, editing by Danilo Masoni)