12 December 2018 – Eje Prime
Saba is expanding in Europe. The subsidiary of CriteriaCaixa, which specialises in the acquisition and management of parking lots, has acquired 800 car parks from Indigo for €200 million. The package sold comprises 169,000 parking spaces spread over several countries across the continent, including the United Kingdom and Germany.
In addition to British and German territory, Saba has also entered Slovakia and the Czech Republic with this purchase. Those four countries join the five where the company already had a presence, namely: Spain, Italy, Portugal, Andorra and Chile. In total, the company managed 210,000 parking spaces to date.
By virtue of this operation with Indigo, which is owned by the investment fund Ardian, the Spanish company has almost doubled the size of its portfolio, which will increase to 378,000 parking spaces, distributed across 1,175 parking lots, according to Expansión.
Salvador Alemany, President of Saba, has said that the purchase of this package of alternative assets “consolidates Saba’s industrial project over the long term, giving coherence to the roadmap marked by the company with the aim of making it a first-rate international player”.
In 2017, Saba recorded revenues of €213 million, with an EBITDA of €100 million and net financial debt of €330 million.
Original story: Eje Prime
Translation: Carmel Drake