Vinci to sell car park business
Vinci SA is considering the sale of all or part of its parking business, Vinci Park. According to sources, Vinci would like to get €1.5-2 billion for the company, which had an EBITDA of nearly €200 million on revenues of €700 million last year.
The company is targeting mainly infrastructure funds as the potential buyers.
CEO Xavier Huillard told les Echos in an interview in July that Vinci already had over 1 billion euros in cash to finance acquisitions but that it could consider opening up the capital of its concessions.
Vinci Park is the European leader and a comprehensive global player in urban mobility and manages around 1.6 million parking spaces in 14 countries.
In a similar transaction, Isolux Corsán Aparcamientos, a subsidiary of Group Isolux Corsán Concessions, attracted Edifice Capital Group to invest a total of €150 million for the management of car parks in Spain.
Vinci must be hungry for cash after it finalized its 3.08-billion-euro acquisition of Portugal's airports operator ANA last week in a transaction financed 100 % with equity. The company also sold half of its stake in construction group CFE for around 135 million euros.
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