Autogrill - Finlabo Research Equity Report: Fundamental and Technical Analysis and 6 months performance forecast
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Autogrill SpA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
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Autogrill SpA Announces Draw-Down of EUR 1.25 Billion Loan and Satisfaction of Conditions Precedent to Completion of Partial and Proportional Demerger of Company in favor of World Duty Free SpA
Autogrill SpA announced that on June 5, 2013, the EUR 1.25 billion credit facility, whose terms and conditions are set forth in the medium/long-term loan agreement entered into on May 30, 2013, has been drawn-down by World Duty Free Group SAU, the Spanish company at the Head of the Group’s Travel Retail & Duty Free business. As anticipated, the new credit facility has been used to repay loans made to WDFG SAU and its subsidiaries and will be used to meet requirements of operating and non-operating business activities. As a result of the draw-down of such loan and the waivers, released by the lenders of the Group, to exercise remedies available under certain loan agreements entered into by Autogrill S.p.A. and other companies belonging to its Group (such as the Multicurrency Revolving Facility 700 and the Term Loan Agreement, referred to under paragraph 4.2 of the document named Information to the shareholders about the proposal of partial proportional demerger of Autogrill S.p.A. in favor of World Duty Free S.p.A.), both the conditions precedent to the execution of the demerger deed have been satisfied and thus there are no further obstacles to the execution of the demerger deed and, as a result, to its effectiveness. The extraordinary shareholders’ meeting called to resolve upon the approval of the demerger plan will take place tomorrow, June 6, 2013.
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