Atlantia today signed the contract to sell 49% of Telepass to the private equity Partners Group for 1.056 billion euros.
This was stated in a note, which explains that "downstream of the transaction, Partners Group and Atlantia will work closely together with Telepass on a series of strategic initiatives to accelerate the growth of the current business and to develop the platform on a pan-European level".
Completion of the transaction - Atlantia explains in a note - "is subject to the normal authorizations and conditions envisaged for this type of transaction and is expected in the first half of 2021".
Atlantia will maintain control of the company which, therefore, will continue to be included in the consolidation area of the Atlantia Group.
With the transaction, the companies aim at "consolidating the Electronic Tolling Collection (ETC) market through both organic and acquisitive growth", as well as strengthening "one-stop" payment solutions not only for consumer customers but also for the new corporate segment;
to the growth of the insurance business through the development of innovative policies.
"All with constant attention to ESG initiatives in collaboration also with emerging European smart cities, helping to optimize multimodal transport and reduce CO2 emissions".
Telepass is already a European leader in electronic toll collection services with 7 million customers and over 12 million devices in circulation, a platform that manages transactions for over 7 billion euros a year in the 14 European countries in which it operates, covering over 105,000 kilometers of motorway networks.
In recent years, Telepass has added additional services related to new styles of mobility to the basic service of electronic toll collection, such as cashless payments for fuel, parking, taxis and shared mobility services;
as well as related insurance products and digital payment services.
Telepass has thus positioned itself as one of the reference operators for payments in the mobility sector.
Partners Group, with over $ 96 billion in assets under management and over $ 135 billion invested in "private markets" globally on behalf of its clients, employs 1,500 professionals across 20 offices and is listed on the Swiss stock exchange (SIX ).
Atlantia was assisted in the transaction by Goldman Sachs, Intesa Sanpaolo / Banca IMI and Mediobanca - Banca di Credito Finanziario as financial advisors, by Studio Bonelli Erede for the contractual aspects and by Studio Gianni Origoni Grippo for the due diligence on Telepass.