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(AFX UK Focus) 2009-07-30 09:54
UPDATE 1-Journey Group, Autogrill in talks for catering JV
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  • COS ESTIMATE 70 MLN STG ANNUAL TURNOVER FROM POTENTIAL JV
    * Journey Group shares rise as much as 31 pct

    (Adds share movement details)
    July 30 (Reuters) - British in-flight catering services provider Journey Group Plc said on Thursday it was in talks with Italian caterer Autogrill SpA to create a joint venture of their flight catering operations at London's Heathrow airport.
    The companies estimate annual turnover of about 70 million pounds ($114.6 million) for the potential combined business, Journey Group said in a statement.
    Journey Group shares were up 19.4 percent at 4 pence at 0838 GMT on the London Stock Exchange. They hit a high of 4.25 pence in early trade.

    ($1=.6106 Pound)

    (Reporting by Balachander Surianarayanan in Bangalore; Editing by Gopakumar Warrier) Keywords: JOURNEYGROUP/ (balachander.surianarayanan@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: balachander.surianarayanan.thomsonreuters.com@reuters.net)

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