Atlantia has agreed to sell a 49% stake in its highway toll collection business Telepass to investment manager Partners Group.
The Italian infrastructure company said it sold the stake for a purchase consideration of €1.06bn and that the deal would be completed in the first half of 2021, subject to standard authorisations and conditions. Atlantia will retain control of Telepass and will continue to consolidate the business, it said.
Following the sale, Atlantia said it will collaborate with Partners Group to develop Telepass, including through organic growth and acquisitions in its core business, as well as developing one-stop toll-payment services both for consumers and corporate clients.
Source: Private Equity News
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