Atlantia agrees acquisition of Yunex Traffic from Siemens
CET 17.47 Rome, 17 January 2022. Atlantia has today 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.