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N 1 To Buy FCC Car Park Unit For €115M

Madrid-based private equity investor N 1 is purchasing the car park subsidiary of Spanish public services company FCC for €115 million.

Madrid-based private equity investor N+1 is purchasing the car park subsidiary of Spanish public services company FCC for €115 million, AltAssets reports. The deal will allow FCC to lower its debt, which declined by 3% year-on-year during the first half of 2011.

The on-street car park unit EYSA manages over 120,000 parking spaces in 60 Spanish cities. Recently, FCC also offloaded its underground car parking unit for €120 million.

Click here for the story from AltAssets.

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