- It incorporates 15 new car parks with more than 8,000 parking spaces in nine cities of Portugal
Saba has reached an agreement with the Portuguese group SdC – Concessões, SGPS, SA (Sdc), owner of the CPE, for the acquisition of 100% of the of car park concession. CPE is the fourth private car park company in Portugal, with a portfolio of 13 car parks and 2 regulated areas in 9 cities, including Lisbon and Oporto, which together sum a total of 8,100 parking spaces and about 30-year concessional average life.
The transaction is subject to fulfillment of conditions precedent mainly relating to Competition and regulatory approvals.
To Saba, this is a natural operation of growth in the Portuguese market, thereby improving the company’s positioning in this territory with the entry into new cities as São João da Madeira, Póvoa de Varzim, Faro, Aveiro and Gondomar, besides reinforcing itself in Lisbon and Oporto. Following this transaction, Saba will manage a 35-car park network in Portugal, located in 15 cities, with more than 17,500 parking spaces.