ACCIONA has sold-off its portfolio of current operative car park concessions, comprising 17,147 parking spaces spread across Brazil, Spain and Andorra. The investment was undertaken for a consideration of a total €190 million. The divestment took place in two separate operations: the EQT investment fund purchased the assets in Spain and Andorra, while the Brazilian company, Horapark acquired the assets in Brazil.

EQT Infrastructure has acquired the entire concessions portfolio in Spain and Andorra, integrated mainly in ACCIONA Car Parks, for a total €180 million, including €40 million worth of net financial debt, working capital and outstanding investment worth €2 million, and a €5 million payment subject to results.

The operation, subject to prior authorization by the Spanish competition watchdog, Comisión Nacional de la Competencia, is expected to be completed next July.

The Brazilian company Horapark Sistema de Estacionamiento Rotativo Ltda paid €10 million (free from debt) for ACCIONA’s 60% stake in Estacionamientos Cinelandia SA, which owns a car park in Rio de Janeiro.

ACCIONA’s current car parks portfolio has grown mainly organically and comprises 30 car parks, with a total 17,147 spaces in Spain (25 car parks in 17 provinces), Andorra (4 car parks) and Brazil (1 car park). The initial average concessions periods are 50 years in Spain and Andorra with an average 31 years remaining; and in Brazil, 35 years and an average 27 years remaining.

Car park business, mainly integrated in ACCIONA Car Parks, contributed €23 million in revenues and €12 million in EBITDA to Group results in 2010, raising the divestment ratio to 16 times EBITDA.

This operation is part of ACCIONA’s corporate strategy of rotation of mature assets, aimed at maximizing growth potential and the profitability of invested capital. In this respect, the Company will continue to develop business opportunities organically in the car parks concession sector not only in Spain but also in other countries, guided by the same management team that led the newly divested car parks portfolio.

ACCIONA is one of the foremost Spanish business corporations, leader in the development and management of infrastructure, renewable energy, water and services. The Company was set up over a century ago and is made up of more than 35,000 employees and has a presence in more than 30 countries on five continents. ACCIONA plans to develop opportunities in parking concessions.