Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- The European Commission gave its approval on Monday for Belgian company Interparking to acquire Spanish parking operator Saba Infraestructuras.
In its statement, the Commission noted that the transaction would not raise competition concerns due to its limited impact on competition in the markets where both companies operate.
The two companies had been in discussions about combining their businesses into a major European player since November 2022. They formally announced their merger plans in October, although they did not reveal the financial value of the transaction.
According to the companies, Belgian insurer AG’s property subsidiary will remain the new group’s majority and controlling shareholder. Dutch pension fund APG and Spanish holding company Criteria will also maintain stakes in the combined entity.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.