Almaviva SpA is moving ahead with its acquisition of Iteris Inc., a smart mobility firm based in the United States, according to a recent Bloomberg report. Goldman Sachs has secured debt financing of €350 million ($389 million) to support the buyout. This bridge loan will eventually be replaced by high-yield bonds.
The move reflects renewed confidence among traditional lenders, as U.S. interest rates are expected to fall, encouraging banks to take on more risk after a period of caution. Goldman's decision to back the entire financing marks a shift as banks seek to re-enter the lucrative buyout space after setbacks in 2022, when many found themselves trapped in risky debt due to rising interest rates.
