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SIEMENS AG

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Siemens Sells Yunex to Atlantia for $1.1 Billion

01/17/2022 | 12:25pm EDT

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

01-17-22 1224ET

Stocks mentioned in the article
ChangeLast1st jan.
ATLANTIA SPA 0.04% 22.54 Delayed Quote.29.07%
ON SEMICONDUCTOR CORPORATION 3.19% 56.24 Delayed Quote.-17.20%
PUBLIC FINANCIAL HOLDINGS LIMITED 0.81% 2.48 Delayed Quote.-5.38%
SIEMENS AG 0.54% 114.82 Delayed Quote.-24.80%
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Analyst Recommendations on SIEMENS AG
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Financials
Sales 2022 68 570 M 73 219 M 73 219 M
Net income 2022 6 927 M 7 396 M 7 396 M
Net Debt 2022 36 514 M 38 990 M 38 990 M
P/E ratio 2022 13,9x
Yield 2022 3,67%
Capitalization 91 684 M 97 900 M 97 900 M
EV / Sales 2022 1,87x
EV / Sales 2023 1,72x
Nbr of Employees 303 000
Free-Float 88,4%
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Mean consensus BUY
Number of Analysts 24
Last Close Price 114,82 €
Average target price 166,16 €
Spread / Average Target 44,7%
EPS Revisions
Managers and Directors
Roland Emil Busch President & Chief Executive Officer
Ralf Peter Thomas Head-Corporate Finance, Accounting & Controlling
Jim Hagemann Snabe Chairman-Supervisory Board
Hanna Hennig Chief Information Officer
Bernhard Wardin Head-Technology & Innovation
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