Central Parking completes sale of European operations

The sale includes the company's operations in the United Kingdom, Ireland, Spain and Switzerland, Central Parking officials say. Central Parking's operations in Poland were sold previously to APCOA.

Excluded from the sale was the company's interest in its joint venture in Greece. The financial terms of the transaction were not disclosed.

Emanuel J. Eads, president and CEO of Central Parking, says one of the key components of the company's strategic plan is the divestiture of operations in markets in which the company has a small market share and significant barriers to growth.

Prior to completing this transaction, the APCOA Group had operations in 13 countries across Europe. The group manages more than 3,500 car parks providing some 760,000 parking spaces, and employs approximately 2,800 employees. It manages town center car parks as well as shopping center, airport and hospital parking.

Central Parking, headquartered in Nashville, is a leading provider of parking and transportation-related services. As of June 30, the company operated approximately 3,000 parking facilities containing approximately 1.4 million spaces at locations in 37 states, the District of Columbia, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, Chile, Colombia, Peru, Spain, Switzerland and Greece.

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