Autogrill Sells Canadian Motorway Business to Arjun and Fengate

(Bloomberg) -- Italy’s highway services group Autogrill has completed the disposal of all its motorway travel center operations in Canada to a consortium led by Arjun Infrastructure Partners Ltd and Fengate Capital Management Ltd., according to a statement on Autogrill’s website.

The assets include three partnership interests held by HMSHost Motorways Inc. and HMSHost Motorways LP and the sale of the concession assets at three travel centers owned and operated by HMSHost’s SMSI subsidiary.

The buyer has acquired the interests of HMSHost and KDLP in all 23 plazas with a contract expiring in 2060 and annual concession revenue of $111 million in 2018.

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