Spanish parking operator Saba to merge with Belgium's Interparking

Ageas SA/NV

16/10/2024 19:06

MADRID, Oct 16 (Reuters) - Spanish parking operator Saba
Infraestructuras will be integrated into Belgium-based
Interparking after their main shareholders agreed to a merger,
the companies said in a joint statement on Wednesday.
    The three partners - Belgian insurer AG's  AGES.BR  property
subsidiary, Dutch pension fund APG and Spanish holding Criteria
Caixa - will become the main shareholders in the new
Interparking Group, which will remain headquartered in Brussels
and have a presence in 16 countries, they said.
    Saba and Interparking, which had been in talks to combine
their businesses into a major European player since November
2022, did not disclose the transaction's value.
    The statement added that AG was set to remain the new
group's majority and controlling shareholder alongside APG and
Criteria, which is La Caixa foundation's investment arm and the
biggest shareholder in lender Caixabank  CABK.MC  and power
utility Naturgy  NTGY.MC . 
    Following the merger, Interparking will operate over 2,000
car parks with nearly 800,000 spaces and some 8,000 electric
vehicle charging points.
    AG Group and APG were advised by BNP Paribas and Jefferies,
while Interparking was advised by the former as well as the GBS
Group. Bank of America advised Criteria and Saba.

 (Reporting by David Latona; Editing by Leslie Adler)
 ((david.latona@thomsonreuters.com; +34 918 35 68 13;))