Atlantia’s Telepass CEO sees IPO as an option from 2024

Infrastructure group Atlantia’s logo can be seen outside their headquarters in Rome, Italy, on Oct. 5, 2020. REUTERS/Guglielmo Mangiapane/File Photo

MILAN, Aug 12 (Reuters) – Atlantia’s (ATL.MI) toll road payment unit Telepass sees an initial public offering (IPO) as an option from 2024 to allow minority shareholder Partners Group Holding (PGHN.S) To make money, Il Sole 24 Ore quoted the CEO of Telepass.

“IPO is a technical hypothesis, one of the practical way out options recognized by the holder of 49% of Telepass,” the newspaper quoted CEO Gabriele Benedetto on Thursday.

Last year, Italian infrastructure group Atlantia agreed to sell 49% of Telepass to Switzerland-based Partners for 1.06 billion euros ($1.24 billion).

Benedetto said Telepass had “ambitious” growth plans, also based on mergers and acquisitions.

“We aim to expand in Europe, we have both space and need for inorganic growth,” he said, adding that Telepass would look for mergers and acquisitions abroad in mobility services and logistics activities.

Potential targets for mergers and acquisitions are companies that are already operating, although they are even in the early stages of their business development, he told Il Sole 24 Ore.

($1 = 0.8516 euros)

Reporting by Giulio Piovaccari; Editing by Christopher Cushing and Kim Coghill

Our standards: The Thomson Reuters Trust Principles.

Leave a Comment