Maravela & Asociatii has advised Belgian company Interparking on its almost EUR 4 million acquisition of P700 Parking, in Timisoara, from S.C. Constructim S.A.
Interparking Group, which is present in nine countries and in over 360 cities, currently holds 782 units totaling 355,839 parking spaces across Europe. In 2016, the group’s turnover was over EUR 410 million. Interparking holds four parking lots in Romania, in Bucharest and Timisoara.
The P700 parking lot in Timisoara has a capacity of 520 parking spaces, whilst the parking lots in Bucharest have a total of 1,400 spaces.
The Maravela & Asociatii’s team, which was coordinated by Partner Dana Radulescu, assisted with due diligence as well as the negotiation and drafting of transaction documents. "We are glad to be involved in transactions that underline the raised interest of foreign investors, speeding the modernization of the infrastructure and offering practical solutions to everyday problems," he commented. "The Interparking Group intends to further expand its business in the region so we presume that new projects will be announced shortly.”