Cintra acquires a 24.5% stake in Sociedad Municipal de Aparcamientos y Servicios de Málaga (SMASSA)
Estacionamientos Subterráneos, a company integrated in Cintras Car Park Division, has acquired a 24.5% stake in Sociedad Municipal de Aparcamientos y Servicios de Málaga (SMASSA), through the subscription of a capital increase operation carried out by SMASSA.
With this Pta 584 million investment, the stake of Cintras Car Park Division is increased to 24.5% from its previous 3.7% stake in the company. On its turn, Unicaja has acquired another 24.5% stake through an identical transaction, while the remaining 51% will stay in the hands of Málagas city council.
More than 3,000 car park places
During the next 50 years, SMASSA will manage all the future car parks to be built in the city of Málaga, as well as the surface regulated car park places and the vehicle removal service.
Currently, SMASSA manages more than 3,000 car park places in Málaga and is expected to manage more than 5,000 car park places in a near future.