Vinci in talks to sell parking biz to Ardian, C.Agricole

PARIS Wed Feb 12, 2014 1:51am EST

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PARIS Feb 12 (Reuters) - Construction and concessions group Vinci said it was in exclusive talks to sell a controlling stake in its car-parks business to French bank Credit Agricole and private-equity fund Ardian to finance an overseas expansion.

Under the planned deal, which values Vinci Park at 1.96 billion euros ($2.68 billion), Credit Agricole's insurance unit and Ardian would each take 37.5 percent of the business via a new holding company, with Vinci retaining 25 percent.

In a joint statement, the companies said their goal was "to increase (Vinci Park's) presence in high-growth markets such as North America, Latin America and Asia" while continuing to work with Vinci Park's current management.

Exclusive talks are underway and will lead to a final transaction "after consultation with employee representatives", the statement said. ($1 = 0.7312 euros) (Reporting by Laurence Frost; Editing by Lionel Laurent)

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