Spanish parking operator Saba Infraestructuras will be integrated into Belgium-based Interparking after their main shareholders, Belgian insurer AG, Dutch pension fund APG and Spain's CriteriaCaixa agreed to a merger.
The three partners will become the main shareholders in the new Interparking Group, which will remain headquartered in Brussels and have a presence in 16 countries with over 2,000 car parks, they said.
In the newly combined entity, AG will remain the majority and controlling shareholder, alongside APG and CriteriaCaixa. As part of the transaction, AG and APG have agreed to invest additional capital in the combined entity to support future growth.
After the integration, the Interparking Group will operate nearly 800,000 parking spaces as well as nearly 8,000 electric charging points.
Serge Fautré, CEO of AG Real Estate and Chairman of Interparking said: 'Our Group became the majority shareholder of Interparking 22 years ago. We have continuously supported the development of the company alongside the family founders and more recently APG Asset Management. This deal confirms our confidence in the company, its management, and the industry. Interparking Group will further develop as a true mobility actor in the years to come sensitive to its clients, the municipalities in which it operates as well as the societal challenges it faces.'
Arjan Reinders, head of Infrastructure Europe at APG added: 'We are excited to further strengthen our commitment to Interparking with the combination of Interparking and Saba to create a top-tier European parking and mobility platform. We see the combination of Interparking and Saba as key to future-proofing our assets by investing in innovative technologies that will shape the future of urban mobility, ensuring that our portfolio continues to evolve with the changing needs of cities and communities. As we grow this business, we remain focused on ensuring our assets contribute both to financial success and to creating a better world for future generations.'
