CNMC clears the purchase of Parkia by French giant Indigo for nearly $650 million.

National Commission for Markets and Competition (CNMC) approved the acquisition of a Spanish parking company Parkia from the French giant Indigo

global leader in parking spaces, in a deal that was worth around €650 million when announced last July.

The CNMC Council issued a resolution, to which Servimedia had access, authorizing the operation in the first stage with obligations.

Indigo Group, owned by Crédit Agricole Assurances, Vauban and MEAGannounced last July an agreement to acquire 100% of the shares of Parkia Spanish Holding SLU and its subsidiaries with the support of Igneo infrastructure partners

.

Thanks to the integration of the third and fourth operator in Spain in terms of the number of off-street parking spaces, Indigo assured in a statement that it will “significantly strengthen its leading position in Europe by increasing its presence in key European regions such as Spain and Andorra“.

The agreement stated that the combined company would operate car parks under the Indigo brand and would become the second largest market player in the Iberian Peninsula based on Ebitda.