Bids for Vinci car park business due by end-November

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Bids for Vinci car park business due by end-November

Reuters has informed that sources said that first-round bids for Vinci's parking-concession business are due by end-November, and are expected to value the firm around €2 billion

Vinci would be considering the sale of a 25 % stake in the Vinci Park division and expects a range of bids to value the entire business at between €1.8 billion and €2.3 billion, according to sources.

The company had an EBITDA of nearly €200 million on revenues of €700 million last year.

Vinci Park is the European leader and a comprehensive global player in urban mobility and manages around 1.6 million parking spaces in 14 countries.

Potential buyers could include insurers, private-equity funds and infrastructure funds. Ardian, formerly AXA Private Equity, told Reuters it is interested in the asset and sources said it was teaming up with Credit Agricole's insurance arm to study a possible bid.

In a similar transaction, Isolux Corsán Aparcamientos, a subsidiary of Group Isolux Corsán Concessionsattracted Edifice Capital Group to invest a total of €150 million for the management of car parks in Spain.

Vinci recently finalized its 3.08-billion-euro acquisition of Portugal's airports operator ANA in a transaction financed 100 % with equity.

The company also sold half of its stake in construction group CFE  for around 135 million.

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