CVC acquires iPark car parks for over €300 million: Advisors
CVC DIF, the infrastructure division of CVC Capital Partners, has acquired 100% of iPark from Elliott Investment Management in a transaction valued, according to public information, at over €300 million.
The transaction was completed following a competitive sale process, in which CVC DIF prevailed over other potential buyers.
Founded in 2013, iPark is one of the leading car park operators in Spain and Portugal. The company manages a diversified portfolio of approximately 65 off-street and on-street car park assets, totalling more than 31,000 spaces. Its operating model combines owned assets, concessions, leases and third-party management.
Advisors
Uría Menéndez advised CVC DIF with a team comprising Manuel Echenique and Guillermo del Río (partners in M&A–Private Equity, Madrid), Miguel Stokes (partner in M&A–Private Equity, Lisbon), Felipe Carbonell (managing associate, Madrid), Domingos Salgado (managing associate, Lisbon), and associates Alejandro Fuentes and Alejandra Delgado (Madrid).
Eversheds Sutherland acted as legal advisor to Elliott Investment Management. The team consisted of Juan E.Díaz, Carlos Pemán, David Williams, Diego Muro Matoses, Mercedes Olmedo and Clara Calzado in the Corporate area; Antonio Cuéllar and José Fernández de Mesa in Tax; Juan Alonso Berberena and Luis Aguilar in Employment; and Crisanto Pérez-Abad in Competition.
EY Abogados also advised Elliott, on tax matters (tax vendor due diligence, tax structuring, tax modelling and tax advice in connection with the SPA). The team was composed of Manuel Paz (partner), Laura Martínez Martín (senior manager), Rocío Meca Fernández (manager) and Delia Durand Irizar (junior).
Squire Patton Boggs advised iPark. The team was led by partners Carlos Blanco and José Aguilar, with the support of associates Íñigo Oliván, Andrea Boullosa and Francisco Huertas.
