Interparking Group, a 90%-owned subsidiary of Fortis Real Estate, has acquired the Spanish car park company 'Metropark'. The seller is the Metrovacesa Group.
Metropark is mainly active in Valencia, Madrid and Santiago de Compostela. Its portfolio also covers, four hospital car parks, among which the car parks of Madrid's major hospital 'La Paz' and Valencia's major hospital 'La Fe'. The car parks consist of 4,450 parking spaces which accommodated 2,147,772 clients in 2008.
Ernesto Piera, CEO of Interparking Hispania: "This acquisition, which is valued at more than 100 million, significantly consolidates Interparking Group's position in the Spanish car park sector, the car parks being of a very high quality and characterized by very long-term contracts.Metropark's portfolio complements the current portfolio of Interparking Hispania. As a result of this acquisition, Interparking Hispania will be operating 52 car parks in 42 cities totalling more than 18,500 parking spaces."
Roland Cracco, CEO of Interparking: "As a result of this transaction, Interparking strengthens its position among the three leading European car park operators, with a portfolio of more than 560 facilities located in seven European countries (the Netherlands, Belgium, Germany, Austria, France, Spain and Italy) and confirms its intention to grow on the European market."
The transaction is subject to approval by the competition authorities.
Interparking has been assisted in the operation by Mazars (due diligence), by Prat & Roca (legal) and by Solventis (financial brokerage).
Source: Fortis
