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Autogrill Submits the Most Attractive Offer for Aldeasa in Agreement with Altadis.

PARIS -- Autogrill S.p.A. (Milano:AGL IM) announces that Retail Airport Finance S.L.U., wholly owned subsidiary of Autogrill Espana S.A. (100% Autogrill S.p.A.), filed a revised cash Offer for 100% of the share capital of Aldeasa S.A. (Madrid:ALD SM), in which Altadis S.A. (Madrid:ALT SM) owns a 34.6% interest.

The final Offer has been presented at a price per share of Euro 36.57. The consideration for 100% of Aldeasa will be 767.97 million euros.

The final Offer is framed under the agreement reached by Autogrill and Altadis to act in concert, as 50% shareholders of Retail Airport Finance S.L.U., in relation to this Offer, and announced on January 28th, 2005.

The improved Offer is subject to CNMV approval. The operation has been notified to the European anti-trust authorities and it has not been received any decision yet to this respect.

Autogrill and Altadis are convinced of the attractiveness of the Offer for the current shareholders of Aldeasa and of the benefits of the partnership for Aldeasa's future growth. Autogrill and Altadis are very pleased to have the opportunity of working together on this new partnership, convinced that it will strengthen Aldeasa's retailing capabilities and will generate a significant growth for the Company within the Spanish and International markets, benefiting as well all its employees.

Lazard has acted as financial advisor to Autogrill on this transaction. JPMorgan has acted as financial advisor to Altadis.

A prospectus ("folleto") of the initial offer and the enclosed documentation are in the CNMV Takeover bid Register Office, and only the prospectus and the notice ("anuncio") are available on the CNMV Website. The improved Offer, once authorized by the CNMV, will be also available on www.cnmv.es
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Publication:Business Wire
Geographic Code:4EUSP
Date:Mar 22, 2005
Words:297
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