Acquisition move for tolling firm specialist

The 4757 Sanef Group has made a healthy offer to CS for the acquisition of its intelligent transportation system (ITS) operations. The deal relates specifically to the ITS Business Unit, which employs approximately 220 people and recorded a revenue of € 31.4 million in 2011. Sanef is a global service road infrastructure provider, focussing on mobility. This move would allow CS ITS to take full advantage of a growing tolling system market. The deal is subject to the usual conditions concerning acquisitions but CS has granted exclusivity until 31 October 2012. CS is also starting a consultation process with its workers council representatives over the proposed deal.