Mon. Sep 21st, 2020

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Atlantia set to pick Partners Group for talks on Telepass sale: sources

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MILAN (Reuters) – Italian infrastructure group Atlantia (ATL.MI) is set to pick private equity firm Partners Group to start exclusive talks for the sale of a minority stake in its toll-road payment business Telepass, two sources with knowledge of the matter said.

The transaction, which will involve a stake of up to 49% in the unit, is expected to value the whole company at more than 2 billion euros including debt, the sources said.

The deal is expected to be signed off at the end of September or the beginning of October, they said.

Atlantia declined to comment while Partners Group was not immediately available for comment.

A consortium of Warburg Pincus and Neuberger Berman had also tabled an offer to buy a stake in Telepass of up to 49%, sources have said.

The auction, which is led by Banca IMI, Goldman Sachs and Mediobanca, gained new momentum in June after being delayed last year due to a dispute between Atlantia and the Italian government over the group’s motorway concession.

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