{"id":5146,"date":"2009-06-26T00:00:00","date_gmt":"2009-06-26T00:00:00","guid":{"rendered":"https:\/\/newsroom.ferrovial.com\/news\/cintra-clinches-sale-of-its-car-park-division-for-451-million-euro\/"},"modified":"2022-12-21T10:49:51","modified_gmt":"2022-12-21T09:49:51","slug":"cintra-clinches-sale-of-its-car-park-division-for-451-million-euro","status":"publish","type":"new","link":"https:\/\/newsroom.ferrovial.com\/en\/news\/cintra-clinches-sale-of-its-car-park-division-for-451-million-euro\/","title":{"rendered":"Cintra clinches sale of its car park division for 451 million euro"},"content":{"rendered":"    <section class=\"wysiwyg text-editor \" id=\"\">\n        <div class=\"container container--narrow container--p-10\">\n            <ul>\n<li><strong>Cintra has reached an agreement to sell its 99.92% stake in Cintra Aparcamientos to a consortium comprising Assip, S.G.P.S. S.A., Es Concessoes, S.G.P.S. S.A., Espirito Santo Infrastructure Fund I Fundo de Capital de Risco, Transport Infrastructure Investment Company (SCA) SICAR, Ahorro Corporaci\u00f3n Infraestructuras, FCR, Ahorro Corporaci\u00f3n Infraestructuras 2, SCR, S.A., and Banco Espirito Santo de Investimento, S.A.<\/strong><\/li>\n<li><strong>The total amount of the operation, including debt, is 451 million euro.<\/strong><\/li>\n<li><strong>The deal provides capital gains of approximately 97 million euro before taxes.<\/strong><\/li>\n<li><strong>The sale is conditional upon obtaining approval from the Spanish competition authorities.<\/strong><\/li>\n<\/ul>\n<p><strong>Madrid, 26 June 2009.<\/strong> Cintra has reached an agreement to sell its entire 99.92% stake in subsidiary Cintra Aparcamientos, S.A. (Cintra Aparcamientos) to a consortium comprising Assip, S.G.P.S. S.A., Es Concessoes, S.G.P.S. S.A., Espirito Santo Infrastructure Fund I Fundo de Capital de Risco, Transport Infrastructure Investment Company (SCA) SICAR, Ahorro Corporaci\u00f3n Infraestructuras, FCR, Ahorro Corporaci\u00f3n Infraestructuras 2, SCR, S.A., and Banco Espirito Santo de Investimento, S.A.<\/p>\n<p>The deal amounts to 451 million euro, of which approximately 51 is bank debt owed by Cintra Aparcamientos. Cintra Aparcamientos is leader in its market in Spain, providing end-to-end solutions to clients, primarily city governments; it is the only operator with a presence in all 17 of Spain&#8217;s autonomous regions and in all areas of this business: construction and operation of off-street car parks; control and management of on-street parking; development and lease of private car parks; and tow truck services.<\/p>\n<p>At the end of 2008, Cintra Aparcamientos had 296,146 parking spaces in 140 cities in Spain, the UK and Andorra. Net revenues in 2008 amounted to 166.6 million euro and EBITDA to 47.2 million euro. The transaction will provide Cintra with a capital gain of approximately 97 million euro and bring in approximately 400 million euro in cash.<\/p>\n<p>The sale is conditional upon obtaining approval from the Spanish competition authorities. BBVA and Calyon acted as Cintra&#8217;s financial advisors in completing the transaction.<\/p>\n<table summary=\"\" width=\"100%\">\n<tbody>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0March-09<\/td>\n<td>\u00a0 December-08<\/td>\n<\/tr>\n<tr>\n<td>\u00a0Total parking spaces<\/td>\n<td>\u00a0298,766<\/td>\n<td>\u00a0296,146<\/td>\n<\/tr>\n<tr>\n<td>\u00a0-Off-street<\/td>\n<td>\u00a0112,592<\/td>\n<td>\u00a0112,342<\/td>\n<\/tr>\n<tr>\n<td>\u00a0-On-street<\/td>\n<td>\u00a0159,166<\/td>\n<td>\u00a0156,796<\/td>\n<\/tr>\n<tr>\n<td>\u00a0-Private<\/td>\n<td>\u00a027,008<\/td>\n<td>\u00a027,008<\/td>\n<\/tr>\n<tr>\n<td>\u00a0Net revenues (Mn \u0080)<\/td>\n<td>\u00a034.8<\/td>\n<td>\u00a0166.6<\/td>\n<\/tr>\n<tr>\n<td>\u00a0EBITDA (Mn \u0080)<\/td>\n<td>\u00a014.3<\/td>\n<td>\u00a047.2<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n        <\/div>\n    <\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","nivel-2":[2251,1108,1856,1132,1149,1077,1070],"nivel-5":[1730],"nivel-1":[],"nivel-3":[],"nivel-4":[],"class_list":["post-5146","new","type-new","status-publish","hentry","nivel-2-corporate","nivel-2-debt","nivel-2-disinvestment","nivel-2-estrategia-empresarial-es-es","nivel-2-infrastructures","nivel-2-parking","nivel-2-shareholders-and-investors","nivel-5-cintra-en"],"acf":[],"yoast_head":"<title>Cintra clinches sale of its car park division for 451 million euro Ferrovial<\/title>\n<meta name=\"description\" content=\"Sala de prensa Ferrovial | \u00daltimas noticias\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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