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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Finlabo SIM Spa
Provider: Thomson Reuters StreetEvents

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Autogrill SpA Announces Shareholders Approve Proportional Partial Demerger Project for Travel Retail & Duty Free Business

Thursday, 6 Jun 2013 09:57am EDT 

Autogrill SpA announced that the Shareholders approved the project of proportional partial demerger of Autogrill SpA in favour of its wholly owned subsidiary World Duty Free SpA. The Autogrill Group is advised in the demerger by Merril Lynch International, Banca IMI S.p.A. (Sponsor) and Banco Sandander SA as financial advisors, by Law firms Bonelli Erede Pappalardo and Uria Menendez, by Price Waterhouse Cooper as the accounting advisor and by tax law firm Facchini Rossi Scarioni. Unicredit S.p.A and Goldman Sachs are financial advisors of Autogrill S.p.A. on some specific matters of the operation. The Shareholders’ meeting also approved the modification to Article 5 of the By-laws, which eliminates the par value of the shares to facilitate the reduction of the Autogrill’s share capital due to the demerger. At the ordinary Shareholders’ meeting of WDF, of which Autogrill is the sole shareholder, the share price of World Duty Free S.p.A. was approved for listing on Mercato Telematico Azionario (Italian Electronic Stock Market) managed by Borsa Italiana S.p.A.. 

Company Quote

-0.195 -2.20%
24 Apr 2015