May 25, 2017 / 1:32 PM / 2 years ago

Autogrill CEO says group reorganisation can lead to M&A activity

MILAN, May 25 (Reuters) - A business reorganisation that Italy’s Autogrill announced last month could lead to M&A activity for the travel caterer, its Chief Executive said on Thursday.

The group, controlled by the Benetton family, said last month it would strip out Italian food and beverage operations from its holding company, leaving the latter in control of a string of units in different countries or regions.

The move “could be conducive (for M&A)... since it would make it easier to combine the units,” Gianmario Tondato Da Ruos said, adding, however, there was nothing on the table at the moment.

Tondato added the group would take part in the tender for concessions at the Barcelona Airport.

Shares in the group extended gains to rise more than 2 percent following the CEO’s remarks. (Reporting by Elisa Anzolin; writing by Francesca Landini; editing by Isla Binnie)

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