Haitong and Assip buy Empark
Portuguese group Assip and Chinese bank Haitong have taken over 100% of Empark, the Spanish-based car park company. The total amount of the operation, counting debt, is close to €900 million (US$954 million).
Empark, one of the leading European car park operators, is undergoing a shareholder restructuring. Assip, an investment vehicle of the company Silva & Silva, already had 50.3% stake in the car park company. Chinese bank Haitong has partnered with Assip to reach 100% by buying shares from Novo Banco and the Spanish venture capital company GED.
In recent years, Empark's shareholders have tried to sell the company, without success. In 2015 they agreed to sell to the French fund Ardian, in an operation that was valued at around 1 billion euros, but this was not finally signed.
Empark, Aparcamietos y Servicios, S.A.is a leading company in the parking and mobility sector with a presence in 174 cities in Spain, Portugal, United Kingdom, Andorra and Turkey. The company manages more than 500,000 parking spaces that facilitate the movements of more than 150 million people every year.
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