AUTOGRILL/ RISTOP
PRESS RELEASE
PRESS RELEASE
Autogrill/Ristop: The Competition Authority has begun an investigation into an alleged strengthening of dominant position
At its meeting on 13 June 2002, the Competition Authority resolved to commence investigations into the Autogrill S.p.A. and Ristop S.r.l. companies, to appraise the acquisition notified on 14 May 2002.
The operation involved the acquisition by Autogrill of the controlling interest in Ristop, by acquiring 100 percent of its equity. The parties also notified the Authority that if the operation were prohibited or if corrective measures were imposed that they deemed excessive, Autogrill would at all events acquire a share in Ristop and, by 31.12.2004, might opt to acquire the remaining equity, or dispose of it to a third party at its discretion.
Ristop is Autogrill's second largest competitor for the supply of catering services to Italian motorway users, and, like Autogrill, is the sole operator with a full motorway commercial network, although proportionally smaller than Autogrill's.
The operation affects several motorway catering markets identified on the basis of the location of the service areas in which the catering facilities are currently being run by Ristop.
On these markets, Autogrill has an absolutely dominant position, also considering the tiny market shares held by its competitors.
In the Authority's opinion, the planned acquisition appears to be likely to strengthen Autogrill's existing dominant position on the relevant local markets, partly in light of the substantial entry barriers raised by the system of government franchises which regulates these business activities nationwide.
The investigation will be completed within 45 days.
Rome, 20 June 2002