Autogrill's food unit seen at 5.3 eur/shr after split - Reuters survey
MILAN, Sept 30
MILAN, Sept 30 (Reuters) - Autogrill's food and beverages business is expected to trade at 5.3 euros per share from Oct. 1 after splitting off its duty free unit, which in turn is seen at around 7.0 euros, a Reuters survey of six analysts showed on Monday.
Italy's Autogrill is spinning off its smaller but growing travel retail and duty-free unit from its food business, hoping the move will allow it to sound out market opportunities and pave the way for possible tie-ups at either company.
World Duty Free Group (WDFG) will be listed on the Milan stock exchange on Oct. 1.
The forecasts for the food and beverages unit, which will continue to operate under the name Autogrill, ranged from 4.4-6.0 euros, while the estimates for the WDFG price ranged from 6.5-8.2 euros.
Autogrill shares, which have gained 30 percent since the split was approved in May, were at 12.93 euros by 1415 GMT. (Reporting by Agnieszka Flak and Elisa Anzolin, editing by Jennifer Clark)