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Saba Wins the Parking Lots in Barcelona

2/07/2014 – Expansion

Saba outbidded Interparking at the auction assuming a partial privatization of the best car parks belonging to Barcelona City Hall.

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

Saba, held by La Caixa, KKR, ProA and Torreal, has offered €232 million, juxtaposed with the €166.5 million proposal of Belgian Interparking. The price started at €160 million.

Apart from that, Saba also turned out to be better in technical aspects scoring by 91 points higher than the competitor. Another suggestion that convinced the City Hall was handing over 100% of the revenues above those foreseen in the bidding, whereas Interparking offered only 21%.

Although the socialist group of workers at the City Council raised objections to the sale, Barcelona´s mayor is very pleased with the deal. On signing the contract, the Hall will receive €100 million which will be intended for development of social housing blocks.

Over the past months, Saba has purchased car parks at 50 Adif´s railway stations and a bunch of parking lots from Aena, including spaces of the Barcelona-El Prat airport.

 

Original article: Expansión (by A. Zanón)

Translation: AURA REE