Global law firm Norton Rose Fulbright has advised TIIC on the acquisition of a 40% equity stake in Parcheggi Italia S.p.A. from Best in Parking Group.
Best in Parking Group will retain the remaining 60% shareholding. The transaction was agreed in the context of Best in Parking Group’s expansion strategy of its Italian portfolio.
TIIC is a pan-European infrastructure firm investing into mid-market infrastructure projects in both the transportation and social sectors.
Parcheggi Italia is the third largest Italian car park operator managing approximately 41,000 parking spaces and 69 car parks across 22 cities in the North and Centre regions of the country.
Claudio Di Falco, Milan-based partner in the corporate, M&A and securities team, who led on the deal, commented:
“We are pleased we have advised TIIC on this important transaction illustrating the strength of the market, despite challenging conditions.”