EU grants approval for Interparking's acquisition of Spanish parking operator Saba
Hear ye, hear ye! Let's get the lowdown on some EU biz 📣
Brussels, June 16 – In a move that's sure to shake up the European parking scene, the European Commission has given the green light to Belgium's Interparking to gobble up Spain's Saba Infraestructuras 🤝
The word on the street is that this acquisition won't raise any competition eyebrows, as it's expected to have a minimal impact on the markets the companies operate in 🔢
These two parking titans have been an item since November 2022, and they officially announced their plans to tie the knot back in October, keeping the wedding costs under wraps 💰 Talk about a secret ceremony!
AG Insurance's property division will take the reigns as the majority shareholder, with the Dutch APG pension fund and Criteria (an investment arm of the La Caixa foundation and a major Caixabank stakeholder) joining forces to shape the new parking powerhouse
In light of the EU business news, it's worth noting that the upcoming merger between Interparking and Saba Infraestructuras, both significant players in the finance sector, may influence the European parking industry. Meanwhile, the acquisition is anticipated to have little effect on the broader markets they serve.
