Atlantia SpA closed a deal with Partners Group Holding AG to sell a minority stake in its Telepass electronic toll-payment unit, in an agreement designed to build a pan-European alliance that will handle digital payments, according to people familiar with the matter.
Atlantia sold 49% of Telepass for 1.06 billion euros ($1.24 billion), the people said, asking not to be named because the closing of the deal hasn’t been made public. A spokesman for Atlantia declined to comment. Partners Group didn’t immediately respond to requests for comment outside of normal business hours.
Telepass handles electronic tolls on highways in Italy, France, Spain and Portugal. The company also helps drivers pay for parking, city congestion charges and ferries in its home country, as well as providing insurance and fleet-management services.
The company forecast revenue declining by about 1 billion euros this year.
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