EU clears acquisition of Spanish parking operator Saba by Interparking

(BELGA) The European Commission on Monday approved the acquisition of Spanish company Saba by Belgian parking operator Interparking, outside Italy. A decision from the Italian Competition Authority is still pending for the latter country.

AG Insurance, Interparking’s majority shareholder, announced last October that it would acquire Saba. This acquisition would effectively double Interparking’s size, bringing its total to over 2,000 car parks. However, the transaction was subject to approval by the European Commission, which has now been granted.

According to EU competition authorities, the acquisition has only a limited impact on competition within the sector.

Founded in 1966, Saba operates car parks in nine countries across Europe and Latin America. These will be integrated into Interparking, which, following the transaction, will manage nearly 800,000 parking spaces and around 8,000 electric vehicle charging stations in 16 countries. The Interparking and Saba brands will both be retained.