Infra park signed an agreement to increase its stake in laz parking from 50% to 90%
|La Défense, 19 June 2017
Infra Park signed an agreement to increase its stake in LAZ Parking from 50% to 90%
In January 2017, Infra Park shareholders announced the launch of a strategic review of various options to support the next development phase of the Group.
Taking into account the outcome of this strategic review, they have decided to initiate a process for the sale / capital opening of the Group, which could result in the entry of one or more new shareholders.
As part of this process, Infra Park entered into an agreement with its partners in LAZ Parking, in which the Group could increase its stake in LAZ Parking from 50% to 90%. This agreement, which will become effective if a change of control of Infra Park occurs before December 31, 2017, will allow the LAZ founders and managing partners to remain shareholders and continue to drive LAZ's strong and profitable growth.
With more than 880,000 spaces in more than 328 cities, Infra Park will further strengthen its position as one of the leaders in a dynamic North American market.
|Contact analysts /investors:||Press contact:|
|Edouard Risso||Claire Lise Beaurenault|
|Tél : +33 1 49 03 14 60||Tél : +33 1 49 03 12 79|
About Infra Park
Infra Park (previously named Infra Foch), holding about 100% of Indigo (previously named VINCI Park), is a key global player in car parking and urban mobility, which manages more than 2.1 million parking spaces in 16 different countries. In 2016, Infra Park revenues and EBITDA amounted to €860 million and €305 million respectively (Global Proportionate figures, pre-IFRS 11).
Infra Park is indirectly held at 49.2% by investment funds managed by Ardian, 49.2% by Crédit Agricole Assurances, and the remainder by the employees and management of the Group.
About LAZ Parking
LAZ Parking, founded in Hartford, CT in 1981, is one of the largest and fastest growing parking companies in the United States, operating hundreds of thousands of parking spaces across the country in over 2,500 locations. With over 35 years of experience providing parking management and transportation services, LAZ works seamlessly across a variety of segments including hospitality and valet, office buildings, medical, airport and transportation, campus, government and municipal, retail, events, residential building and shuttle services. Additional information can be found at www.lazparking.com.
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