Bidders line up for Spain´s 3rd largest car park operator
Twelve bidders have submitted their proposals for the acquisition of Parkia, the third largest car park group in Spain, owned by Nordic fund EQT Infrastructure Limited.
Parkia, is a private car park operator in Spain and Andorra. The company operates over 55 off-street car parks with some 27,000 spaces in mostly prime locations and with exposure to different sectors.
In January, we informed that EQT had plans to hire advisors to conduct the sale of a 66.8% stake in Parkia. According to sources, the entire capital of Parkia has an estimated value of between €300 million (US$336 millions) and €350 million (US$392 millions). The remaining 33.2 % stake in the company is owned by Mutua Madrileña.
The list of bidders include some of the leading companies in the sector, such as Saba, Indigo (owned by Ardian fund), Interparking and Empark. There are also some infrastructure-specialized financial groups interested in the purchase, such as Infravía.
The role in the transaction of Mutua Madrileña, owner of 33.2% stake in Parkia, has not been revealed yet, but, according to sources, the company plans to retain its capital in Parkia.
The plan is to complete the bidding process by the end of July.
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