(IN BRIEF) On July 5, 2023, autoTicket GmbH, a joint venture of Kapsch TrafficCom AG and CTS Eventim AG Co. KGaA, reached a settlement agreement with the Federal Republic of Germany to end arbitration proceedings related to the termination of the operations contract for the infrastructure charge (“passenger car toll”). The settlement agreement has been finalized and executed, resulting in a payment of EUR 243 million to autoTicket GmbH by the Federal Republic of Germany.
(PRESS RELEASE) VIENNA, 26-Jul-2023 — /EuropaWire/ — As already published, a settlement agreement was reached on July 5, 2023 between autoTicket GmbH, a joint venture of Kapsch TrafficCom AG and CTS Eventim AG Co. KGaA, and the Federal Republic of Germany and the arbitration proceedings conducted due to the termination of the operations contract for the collection of the infrastructure charge (“passenger car toll”) were thus ended.
The settlement agreement has now been finalized, executed and is effective. The payment of the amount of EUR 243 million to autoTicket GmbH by the Federal Republic of Germany has already been affected.
Kapsch TrafficCom is a globally renowned provider of transportation solutions for sustainable mobility with successful projects in more than 50 countries. Innovative solutions in the application fields of tolling, tolling services, traffic management and demand management contribute to a healthy world without congestion.
With one-stop-shop solutions, the company covers the entire value chain of customers, from components to design and implementation to the operation of systems.
Kapsch TrafficCom, headquartered in Vienna, has subsidiaries and branches in more than 25 countries and is listed in the Prime Market segment of the Vienna Stock Exchange (ticker symbol: KTCG). In its 2022/23 financial year, about 4,000 employees generated revenues of EUR 553 million.
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SOURCE: Kapsch TrafficCom