Telepass may be listed following sale of 30% stake by Atlantia - report (translated)
22 JUN 2019
Atlantia [BIT:ATL], an infrastructure group held by Italy's Benetton family, could list Telepass, an Italian toll-road payment company, after it has sold a 30% stake in the company, Italian language daily Il Sole 24 Ore reported. The item cited no sources for the claim.
The report said that the sales process for the 30% stake could start after the summer, while it mentioned private equity firms Partners Group,General Atlantic , KKR, [NYSE: KKR], Ardian and other financial players as bidders.
However, the item said that industrial bidders such as payment operator Nexi [BIT: NEXI]and SIA are unlikely to make offers because Atlantia is looking for a financial investor and only a minority stake is up for sale. However, the report said that both companies are likely to be interested if a larger stake was offered for sale.
Mediobanca and Goldman Sachs are advising on the 30% stake sale, the report added.
The report said that Atlantia is valuing Telepass at EUR 2bn. The item added that the 2018 turnover for Telepass' Italian operations was EUR 200m compared to EUR 183m in 2017. The article added that the operating result was over EUR 95m and profit EUR 68m in 2018.