CriteriaCaixa, the holding company of ”la Caixa” Foundation that manages its business assets, has reached an agreement with AG Insurance and the fund manager APG, current shareholders of the Belgian company Interparking, for the integration of Saba -a car park operator of which CriteriaCaixa owns 99.52% – and Interparking.
The agreement allows CriteriaCaixa to monetize part of its investment in Saba, in addition to obtaining a significant 18% stake in Interparking, as well as the right to propose the appointment of two members of its Board of Directors. After the integration, the current shareholders of Interparking, AG Insurance (through its property subsidiary AG Real Estate) and APG, will also remain shareholders in Interparking.
Additionally, the transaction represents a liquidity event for Saba’s minority shareholders, given that it is envisaged that they can adhere the transaction during the interim period.
The combined entity will become a European benchmark in the sector, with more than 2,000 car parks in 16 countries in Europe and Latin America, and almost 800,000 parking spaces and nearly 8,000 electric charging points in total.
Isidro Fainé, Chairman of CriteriaCaixa, expressed: “With this deal, Saba will be integrated into a Pan-European player in car park management, with the capacity to compete globally and with a long-term industrial project. The agreement also allows CriteriaCaixa to boost the strengthening of the European industry in a strategic sector for the economy such as infrastructure management for mobility”.
Ángel Simón, CEO of CriteriaCaixa, said: “We are very pleased to have reached this agreement, which is fully aligned with CriteriaCaixa’s 2025-2030 Strategic Plan, focused on value creation through reinforcing the commitment to companies in strategic industries and promoting future industrial development through investment in new sectors and projects”.
Private Equity Portfolio
CriteriaCaixa’s stake in Interparking will become part of the holding company’s private equity portfolio, one of the novelties included in the new Strategic Plan 2025-2030. This portfolio brings together investments in unlisted companies both in Spain and internationally. CriteriaCaixa’s forecast is that this portfolio will reach an estimated value of 4 billion euros in 2030.
The Strategic Plan 2025-2030 of CriteriaCaixa, presented last June, prioritizes providing its sole shareholder, ”la Caixa” Foundation, with a growing and uninterrupted dividend that allows it to continue developing its social action. The new roadmap strengthens CriteriaCaixa’s investment in the strategic sectors of banking, energy, telecommunications and utilities, as well as boost its diversification portfolio.
The agreement announced today continues the strategy that CriteriaCaixa has carried out in recent months, in line with its Strategic Plan, with notable transactions such as the increase in participation in Telefónica (9.99%), or the entry into the capital of top-level companies such as ACS (9.4%), Colonial (17.3%), and Puig (3.1%).
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