SABA wins parking partial privatization in Barcelona

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SABA wins parking partial privatization in Barcelona

In July, Spain's Saba won the partial privatization process of the best car parks belonging to Barcelona City Hall. Saba beat out Interparking at the auction.

The company chaired by Salvador Alemany presented the best financial offer to acquire 60% of Bamsa, a firm that is bound to manage the 26 parking lots in Barcelona downtown for the next 25 years. The remaining 40% will remain in the hands of the City Council.

Saba, owned by La Caixa, KKR, ProA and Torreal, offered €232 million, beating the €166.5 million proposal of Belgium's Interparking. The auction started at €160 million.

Besides, Saba also turned out to score higher than Interparking in technical aspects. Saba also proposed to hand over 100% of the revenues above those foreseen in the bidding, whereas Interparking offered only to hand over 21%.

On signing the contract, the City will receive €100 million, which will be used for the development of social housing blocks.

Over the past months, Saba won a tender process to manage car parks at 50 Adif's railway stations and a bunch of parking lots from Aena, including spaces of the Barcelona-El Prat airport.

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