Ardian to acquire Vinci Park

Vinci plans on selling three quarters of its Park division, retaining a 25% stake via its Vinci Concessions unit, the division under which Vinci Park currently operates. Ardian will hold a 37.5% stake in the newco created to house Vinci Park's shares, while Crédit Agricole Assurances will take the same amount.

Crédit Agricole is acquiring its stake via its personal insurer arm, Predica. Ardian is investing in the company through its infrastructure business.

Company
Paris-based Vinci established its Park subsidiary in 2001. The division manages around 1.6 million parking spaces and associated services in 500 towns and cities across 14 countries.

Vinci Park recorded revenues of €607m in 2013 and employs 12,000 staff.

People
Xavier Huillard is the chairman and CEO of Vinci, while Serge Clemente is the chairman and CEO of Vinci Park.

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• Topics
• France
• Buyouts
• Consumer
• France
• Ardian (formerly Axa PE)
• Credit Agricole Corporate & Investment Bank