PARIS Feb 12 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)