(Finance) – The board of directors of Autogrill has approved the underwriting, as borrower, of a intercompany loan agreement (rotary and multi-currency, so-called downstream) from 700 million euros with Dufry Financial Services, a company indirectly controlled by the controlling shareholder of Autogrill, ie the Swiss company Dufry.
The funds deriving from the downstream loan will be used by Autogrill for repay your debt pursuant to the change-of-control clauses envisaged in the bank loan agreement for 1 billion euro entered into by Autogrill and the American subsidiary HMSHost Corporation.
Also HMSHost Corporation will repay the loan that was granted pursuant to the same contract using the proceeds of a revolving intercompany loan that Autogrill will make available to it at the same time.