Standard Parking Wins OK On $345M Merger By Selling Lots

Law360, Los Angeles (September 26, 2012, 3:23 PM EDT) -- Standard Parking Corp. has agreed to sell parking facilities in 29 cities to solve competition concerns and win regulatory approval of its proposed $345 million acquisition of Central Parking Corp., the U.S. Department of Justice said Wednesday.

Under the terms of the settlement, the two companies have agreed to divest interest in approximately 107 parking facilities, which include standing parking garages and open lots, located in 24 states, the DOJ said. The facilities that the companies have agreed to divest generate annual revenues of about $85...
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