Finance

Atlantia's Telepass CEO sees IPO as an option from 2024 -report

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The logo of infrastructure group Atlantia is seen outside their headquarters in Rome, Italy, on October 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 cash in, Il Sole 24 Ore quoted Telepass' chief executive as saying.

"An IPO is a technical hypothesis, one of the practical way-out options recognised to the holder of 49% of Telepass," the newspaper on Thursday quoted CEO Gabriele Benedetto as saying.

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

Benedetto said Telepass had "ambitious" growth plans, also based on M&A.

"We aim to expand in Europe, we've got both room and need for non-organic growth," he was quoted as saying, adding that Telepass would look for M&A targets abroad in mobility service and logistic business.

Potential M&A targets will be companies which are already operating, although even at initial 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

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