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Italy's Autogrill To Sell Its Operations In Russia

Published on May 25 2022 3:20 PM in Food tagged: Autogrill

Italy's Autogrill To Sell Its Operations In Russia

Italian transport caterer Autogrill AGL.MI is selling its operations in Russia, the company said in an answer to an investor question submitted ahead of Thursday 26 May's shareholders' meeting.

Details

Controlled by the Benetton family, the group has only a negligible exposure to Russia, it said in March.

Autogrill's subsidiary company HMSHost Russia has a highway outlet in Sochi in southern Russia and another in the airport in Saint Petersburg, according to its website.

A total of €4.1 million, which represent 0.1% of the group's 2021 revenue, came in from Russia, the company reported in its latest annual report.

HMSHost Russia has a rouble account in "a Russian bank controlled by Intesa Sanpaolo" ISP.MI, the company said in the same answer. The account balance stood at a little more than 2 million euros at the end of 2021.

Not Clear What Stage The Sale Has Reached

It was not clear what stage the sale process had reached. Autogrill was not immediately available for further comment.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

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