taly-based Atlantia has agreed to divest 49% stake in its electronic toll collection brand Telepass to Swiss private equity investment firm Partners Group, for a total consideration of $1.24bn.
Listed on the SIX Swiss Exchange, Partners Group is engaged in managing assets valuing more than $96bn and has invested over $135bn in global private markets on behalf of its clients. The company has 1,500 professionals, working from 20 office locations across the world.
Once the transaction is completed, Partners Group and Atlantia are expected to work together with Telepass on different strategic initiatives to develop company’s platform across Europe.
The companies are planning to consolidate the Electronic Tolling Collection (ETC) market through organic growth, acquisitions, and strengthening of payment solutions.
Also, the companies intend to develop the insurance business through advanced policies, pursuant to ESG initiatives, and in cooperation with emerging European smart cities.
Telepass offers electronic toll collection services in 14 European countries
Established in 1989, Telepass is engaged in providing electronic toll collection services to 7 million customers in 14 European countries, covering over 105,000kms of motorway networks.
The firm has recently added new mobility-related services to its base ETC service, including cashless payments for fuel, parking, taxis and shared mobility services, along with related insurance products and digital payment services.
Based on its new mobility services and insurance platform, Telepass is expected to tap on the opportunities related to growth trends in fintech, insurtech and data enhancement.
For the transaction, Goldman Sachs International, Intesa Sanpaolo/Banca IMI and Mediobanca – Banca di Credito Finanziario served as financial advisors, while Bonelli Erede and Gianni Origoni Grippo as legal advisors to Atlantia.
Atlantia said that its divestiture is subject to usual approvals and conditions for this type of transaction and is expected to be closed in the first half of 2021.
