Italy’s Autogrill to sell its operations in Russia

MILAN (Reuters) – Italian transport caterer Autogrill is selling its operations in Russia, the company said in an answer to an investor question submitted ahead of Thursday’s shareholders’ meeting.

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 euros ($4.4 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”, the company said in the same answer. The account balance stood at a little more than 2 million euros at the end of 2021.

It was not clear what stage the sale process had reached. Autogrill was not immediately available for further comment. ($1 = 0.9310 euros)

(Reporting by Francesco Zecchini; Editing by Keith Weir)