Clifford Chance advises Partners Group on the acquisition of a significant equity stake in Telepass
International law firm Clifford Chance is advising global private markets investment manager Partners Group on the acquisition of a significant equity stake in Telepass S.p.A (“Telepass”), a leading electronic toll collection (“ETC”) services provider in Europe.
Following the acquisition, Partners Group will become the joint owner of Telepass with its current investor Atlantia, a global leader in the transport sector. The transaction values Telepass at an enterprise value of over EUR 2 billion.
Telepass is a leading European provider of ETC services to approximately 7 million clients, processing around EUR 7 billion in annual transactions across 14 European countries and servicing over 105,000 kilometres of motorway network. Telepass complements its core ETC services with other transport-related services, such as digital mobility payments, for example for fuel, parking, taxis, car and bike sharing services, as well as personal mobility insurance services.
Clifford Chance advised Partners Group with a multi-disciplinary and cross-border team led by Milan-based M&A partners Umberto Penco Salvi and Paolo Sersale and associates Vittorio Novelli and Carolina Ribaldone, in coordination with London-based M&A team comprising partner Spencer Baylin, senior associate Edward Holmes and associate Isabella Lessi. On Competition matters, advice was provided by partner Luciano Di Via (Rome) and Jenine Hulsmann (London); Regulatory issues were covered by partner Lucio Bonavitacola with senior associate Alberto Claretta Assandri (Milan), while Employment advice was provided by partner Simonetta Candela (Milan). IP/Data Privacy matters were covered by senior associate Andrea Tuninetti Ferrari, with associates Andrea Andolina and Iolanda D’Anselmo (Milan).