Several Chinese companies are reportedly competing to buy Europe’s biggest parking service provider Q-Park.
Hong Kong-based Cheung Kong Infrastructure Holdings Limited and Shanghai-based Fosun have delivered bidding applications to Q-Park with the transaction price likely exceeding 2.4 billion US dollars, reported sina.com.cn.
According to two insiders, China Oceanwide and Shougang Group also took part in the first round of bidding.
The Netherlands-based Q-Park is running 6,100 parking lots in ten European countries. Its net profit in 2015 reached 90.9 million euros.
Infrastructure has become a new attraction for Chinese companies. In 2016, the world’s second largest economy invested 19.5 billion US dollars in infrastructure overseas, with half of the amount floating to Latin America and one third to Europe, according to the UK-based Financial Times. – CRI