Atlantia among the final bidders for the $ 1.1 billion Siemens Traffic Unit

Atlantia among the final bidders for the $ 1.1 billion Siemens Traffic Unit

Atlantia SpA, the infrastructure firm supported by the billionaire Benetton family, is one of the last contenders to acquire Siemens AG’s traffic the executives unit, individuals acquainted with the matter said. The Italian organization on Wednesday affirmed a Bloomberg News report that it had presented a limiting proposal for the Yunex business. An deal could esteem the Siemens auxiliary at just about 1 billion euros ($1.1 billion), as per one individuals. Atlantia said in an assertion Wednesday that the offer fits with its procedure of putting resources into technology mobility services in accordance with its business plan uncovered in June. The organization is looking to extend its digital contributions to expand on its responsibility for resources like airports.

Representatives for Bridgepoint, KKR and Siemens declined to comment.

Interest from private equity suitors Bridgepoint Group Plc and KKR & Co. is cooling, making it more likely that a strategic buyer will be picked, said the people, who asked not to be identified because the information is private. Siemens could choose a winning bidder as soon as the next few weeks, the people said.

Atlantia’s offer comes after it agreed to sell Autostrade per l’Italia SpA in a deal valuing the toll-highway business at 9.3 billion euros. The divestment was aimed at ending an almost three-year dispute following the deadly collapse of a bridge in Genoa.

Yunex makes traffic lights and manages associated systems in several cities. It was spun out of Siemens Mobility, a division that focuses on rail-related hardware and software.

Siemens has been streamlining its portfolio in recent years and listed its energy and health equipment divisions in a bid to become a higher-margin software-focused company. Chief Executive Officer Roland Busch has said Siemens will continue to hone its portfolio through divestments and acquisitions.

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