Vinci Park is close to sign the acquisition of Portuguese car parking operator Empark.

The transaction, which could make Vinci Park the market leader in car park management in Europe, has an estimated value of €900 million (US$1,021 million).

In 2013, Empark managed 500,763 parking spaces:

• Spain - 387,494 parking spaces;
• Portugal - 68,679 parking spaces;
• United Kingdom - 37,554 parking spaces;
• Turkey - 5,861 parking spaces;
• Andorra - 825 parking spaces; and
• Poland - 350 parking spaces.

The firm has debt of about €560 million, part of it were refinanced in December 2013 through a bond issue amounting to €385 million, which is due to be repaid in December 2019. In 2013, the firm recorded losses of €11.9 million and revenues of €177.8 million. Empark's main shareholders are:

• Portuguese groups Assip Consultoria e Serviços (50.3%);
• Es Concessions International Holding (22.21%);
• Espirito Santo Infraestructure Fund (8.27%).
• Ahorro Corporación (8%).
• Other minority shareholders (rest)

In December 2013 the firm was awarded the management of the car parks at 18 airports in Spain: Asturias, Bilbao, A Coruña, Fuerteventura, Gran Canaria, Jerez, Lanzarote, La Palma, Madrid / Barajas, Pamplona, San Sebastian, Santander, Santiago, Sevilla, Tenerife Norte, Tenerife South, Valladolid and Vigo.

Empark also manages car parks at the airports in mainland Portugal, as well as at London Stansted Airport and Edinburgh Airport, adding to more than 110,000 spaces in European airports.

VINCI Park has a presence in 14 countries on three continents. Vinci Park is owned by Ardian, which holds 37.5% of the company, Crédit Agricole Assurances 37.5% and VINCI Concessions 25%.