CPPIB to pay $546 mln for stake in European car park manager
The Canada Pension Plan Investment Board (CPPIB) has agreed to invest approximately 376 million euros ($546 million) to acquire a 39 percent stake in the Interparking Group, a European car park management company. A CPPIB subsidiary, CPP Investment Board European Holdings S.ar.l, will the buy the stake from AG Real Estate, taking the latter's holdings to 51 percent. AG Real Estate is a subsidiary of Belgian insurance company AG Insurance. Based in Brussels, Interparking has operations in nine countries and a portfolio of 657 car parks in 350 cities.
18 July 2014•3 mins read
