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Italy's Edizione cuts stakes in Autogrill, WDF to 50.1 pct
October 23, 2013 / 4:03 PM / 4 years ago

Italy's Edizione cuts stakes in Autogrill, WDF to 50.1 pct

MILAN, Oct 23 (Reuters) - Italian corporate holding Edizione Srl said on Wednesday it had started to sell shares in Autogrill and World Duty Free (WDF) via an accelerated bookbuilding that will reduce its stakes in each of the two companies to about 50.1 percent.

“The transaction aims at increasing the liquidity of Autogrill and WDF shares in response to growing investor interest,” said Edizione, which is controlled by the Benetton family.

JP Morgan Securities is acting as sole bookrunner for the placement of up to 23.36 million Autogrill shares and of up to 23.30 million World Duty Free shares, it said.

Currently Edizione holds a 59.3 percent stake in Autogrill, a motorway and airport caterer, and 59.3 percent of WDF via its Schematrentaquattro subsidiary. (Reporting by Danilo Masoni; Editing by Lisa Jucca)

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