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Article: City: Granada sells Cote France

Article from:
The Sunday Telegraph London
Article date:
November 30, 1997
Author:
Copyright

GRANADA has sold its Cote France motorway service areas business to Autogrill International, the Benneton family-controlled roadside restaurant chain, for pounds 83m.

Granada inherited the biggest operator in the French service areas sector with 43 sites when it bought Forte for pounds 3.9bn last year. The sale price on the deal, to be announced tomorrow, exceeds market expectations of about pounds 75m.

Granada has now almost completed the disposals of non-core Forte assets planned by Charles Allen, the chief executive. Only Grosvenor House, the hotel on London's Park Lane, and its non-controlling majority stake in the Savoy hotels group remain to be sold. The Grosvenor House sale is ...

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