Vinci To Sell 75% Of $2.7B Parking Lot Biz

Law360, New York (February 12, 2014, 4:25 PM EST) -- French building giant Vinci will divest 75 percent of its 1.96 billion euro ($2.7 billion) parking lot business, Vinci Park, to French private equity firm Ardian and investment bank Credit Agricole's insurance arm, the company said Wednesday. 

According to the exclusive talks' terms, Vinci and the firms will form a holding company for Vinci Park, in which Vinci will hold a 25 percent stake, and Adrian and Credit Agricole will each take 37.5 percent stakes. The trio said they want to continue to grow the business internationally,...
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