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Atlantia agrees acquisition of Yunex Traffic from Siemens

Existing airport assets are expected to benefit from operating and business synergies -VIDEO

Atlantia has yesterday entered into agreement with the Siemens Group for the acquisition of Yunex Traffic at a price of €950m (Enterprise Value), to be funded from available cash. Signature of the agreement marks the conclusion of a bidding process launched by Siemens in recent months, and which has seen Atlantia beat off competition from a large number of international bidders. 

Munich-based Yunex Traffic is a global leader in the Intelligent Transport Systems (ITS) and Smart Mobility businesses. Its traffic management and urban mobility infrastructure and platforms are used in over 600 cities and on 4 continents (Europe, the Americas, Asia and Oceania). 

Signature of the purchase agreement is a strategic step in the process of delivering on Atlantia’s growth strategy announced in June 2021. This targets investment in core sectors in which the Company is a leader (motorways, airports, digital payments for the mobility market), and in adjacent areas offering synergies: Intelligent Transport Systems, Electrification/Renewables, Rail and Mobility Hubs. The transaction, which is conditional solely on receipt of antitrust and FDI (Foreign Direct Investments) clearances, is expected to close by September 2022. 

Business context 

The world of mobility is undergoing continual and rapid change. The development of new sustainable forms of mobility will take place in major urban centres, where technology will play a key role in enabling new business models, new behaviours and a new approach to decision-making. 

Current and expected changes in the mobility sector (electric and self-driving vehicles, the decongestion of traffic, connected cars and mobility-as-a-service) will make it necessary to digitalise infrastructure and develop new services to facilitate the proactive management of traffic, improve safety and effectively control emissions within and outside urban centres. The EU Commission has itself recently identified 424 major European cities that, by 2025, must have adopted urban mobility plans, with the aim of cutting their environmental impact. 

Driven by these trends, the global Intelligent Transport Systems market has for some time enjoyed constant growth, with an estimated CAGR of 10%. 

Operating and business synergies between Atlantia and Yunex Traffic 

Yunex Traffic’s business consists of physical components and digital infrastructure, used in the supply of essential services for urban and out-of-town mobility. 

Confirming its role as a long-term strategic investor in infrastructure, Atlantia will thus be able to also establish a presence in urban areas, differentiating itself due to the fully digital, highly innovative nature of its offering. 

The acquisition will enable Atlantia to deliver the following initial operating and growth synergies between its assets and those of Yunex Traffic: 

• Motorways sector: the presence of strong technological expertise and a portfolio of integrated, innovative services within the Group will further strengthen itscompetitive edge in tenders for the award of new concessions, in addition to helping to drive new investment in roads already operated under concession, with the aim of improving traffic flow, safety and the services provided to road users, and cutting polluting emissions; 

• Airports sector: Yunex’s contribution will help to boost the efficiency of transport in the vicinity of airports and airport parking and of passenger flows within terminals, and improve the real-time management of vehicles, equipment and baggage in airside areas, thus offering an even better service to airport users and helping to reduce traffic and emissions; 

• Mobility services: the acquisition will enable Telepass to further expand its service offering for urban areas, developing new mobility and payment solutions and combining congestion-charging solutions with digital payment services.

In conducting the transaction, Atlantia was advised by Goldman Sachs Bank Europe SE and Deutsche Bank AG acting as financial advisors, and by Clifford Chance as legal advisor. 

Below, the video on Yunex Traffic:

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AVIONEWS - World Aeronautical Press Agency