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Share Name Share Symbol Market Type
Atlantia BIT:ATL Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.04 0.18% 22.24 22.21 22.22 22.30 22.12 22.20 1,695,564 16:35:25

Siemens Sells Yunex to Atlantia for $1.1 Billion

17/01/2022 5:39pm

Dow Jones News


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   By Ed Frankl 
 

Siemens AG said Monday that it had agreed to divest its intelligent-transportation business Yunex Traffic to Atlantia SpA for an enterprise value of 950 million euros ($1.08 billion).

Italian infrastructure company Atlantia filed a binding offer for Yunex earlier in January, though it didn't make public financial details.

The deal comes as Siemens continues to streamline and divest itself of noncore businesses, including through recent listings of its energy and medical-device divisions.

"Siemens is continuously sharpening and optimizing its portfolio as a technology company focused on its core business," said Roland Busch, the German industrial company's chief executive officer.

"We aim to deliver operating and growth synergies between our assets and Yunex Traffic, with the intention of creating a highly competitive, one-of-a-kind group," Atlantia's CEO Carlo Bertazzo said.

Closure of the deal is expected in September and is subject to regulatory approvals.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

January 17, 2022 12:24 ET (17:24 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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