Atlantia Telepass CEO considers IPO option from 2024 – report

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The logo of the Atlantia infrastructure group can be seen outside its headquarters in Rome, Italy on October 5, 2020. REUTERS / Guglielmo Mangiapane / File Photo

MILAN, Aug.12 (Reuters) – The Atlantia Toll Payment Unit (ATL.MI) Telepass is considering an Initial Public Offering (IPO) as an option from 2024 to allow minority shareholder Partners Group Holding (PGHN .S) to cash in, Il Sole 24 Ore quoted the words of the Telepass CEO.

“An IPO is a technical hypothesis, one of the practical solutions recognized for the holder of 49% of Telepass,” the newspaper said Thursday, citing CEO Gabriele Benedetto.

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

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

“We are aiming to grow in Europe, we have both room and a need for non-organic growth,” he said, adding that Telepass would seek out M&A targets overseas in services. mobility and logistics activities.

Potential targets for mergers and acquisitions will be companies already in operation, even if they are already 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: Thomson Reuters Trust Principles.


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