Atlantia wins €950m bid to acquire Siemens’ traffic lights division
Infrastructure group seals first big deal since resolving dispute over Genoa bridge tragedy
Atlantia, the Benetton-controlled Italian infrastructure group at the centre of the Genoa bridge disaster, has won a €950m bid to acquire a Siemens unit that operates traffic lights in more than 600 cities around the world.
German-based Yunex Traffic, which was spun out of Siemens Mobility last year, provides important traffic-management services, using advanced technology including artificial intelligence.
It is the first big deal for Atlantia since bringing to an end its three-year dispute with the Italian government following the collapse of the Morandi bridge in Genoa that killed 43 people in 2018.
The group had come under intense pressure to relinquish control of its toll road arm Autostrade per l’Italia following the tragedy, finally selling the division to Italy’s CDP for €9.3bn last summer.
Atlantia was chosen by German group Siemens over private equity firms Bridgepoint and KKR, US defence and transport group Cubic and China-based Hisense, said the infrastructure group.
It will pay the €950m in cash, funded by dividends and the sale of a 49 per cent stake of its subsidiary Telepass, which operates mobility services for toll roads. Mobility services involve using technology to enhance and improve transport systems.
“The management of infrastructure is now closely connected with innovation and sustainable mobility. We aim to deliver operating and growth synergies between our assets and Yunex . . . to improve the travel experience,” said Atlantia chief executive Carlo Bertazzo.
Yunex chief executive Markus Schlitt said: “Joining Atlantia is a fundamental growth opportunity for our company.”
Atlantia was considered an ideal strategic partner for a business that ran sensitive operations, said three people with knowledge of the transaction. The deal is also part of the infrastructure company’s revamped move to invest in mobility services.
Yunex Traffic, previously known as Siemens Intelligent Traffic Systems, has 3,000 staff and operates traffic lights and cameras in cities including London, Berlin, Dubai and Miami.
Its technology will be used to help Atlantia upgrade its toll road and airport operations. It would strengthen the group’s position when bidding to operate toll roads and airports, said people close to the deal.
Atlantia also owns Aeroporti di Roma, which operates Rome’s two main airports, Fiumicino and Ciampino, and has a 65 per cent stake in the operator of the French airports at Nice, Cannes and St Tropez. It also controls Spanish infrastructure company Abertis.
Although the Siemens subsidiary does not operate in airports, it will be able to develop a new business segment focused on monitoring passenger flows, car parks management and airport security, say the people with knowledge of the deal.
The sale is part of a broader Siemens’ strategy aimed at refocusing its portfolio through divestments and acquisitions.