⁍ Atlantia ATL.MI said on Saturday it has agreed to sell a minority stake in Telepass.

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⁍ Telepass manages transactions worth 7 billion euros a year across 14 European countries.

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⁍ The 49% holding is being sold to Partners Group PGHN.S for 1.06 billion euros.

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– Italian toll-road operator Atlantia is selling a 49% stake in Telepass, its toll-road payment unit, to private equity firm Partners Group for $1.22 billion, the Wall Street Journal reports. According to Reuters, Telepass manages transactions worth more than $1 billion a year for consumers and businesses across 14 European countries. Atlantia, which owns 88% of Italy’s motorway company Autostrade per l’Italia, says the deal needs regulatory approval.