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)