Mirova, a wholly owned subsidiary of Natixis Asset Management dedicated to responsible investment, is
\npleased to announce that its EUR 700M fund dedicated to brownfield regulated infrastructures in
\nContinental Europe, MCIF, has completed the purchase of a majority stake in French parking concessions
\non December 20, 2016. The transaction consists of the acquisition of four parking concessions with local
\nmunicipalities in Bordeaux, Marseille, Asni\u00e8res and Versailles, from a mid-size operating company, Urbis
\nPark owned by Fonci\u00e8re des R\u00e9gions (59.5%) and Predica (40.5%). These car parks are mature brownfield
\nprojects with proven track record and a strong market position, especially in Bordeaux city center.<\/p>\n
The four assets, which will record an EBITDA of around EUR 8.7M in 2016, have been cash-pooled under a
\nholding company Urbis Park Infrastructures, and refinanced through a EUR 102M project finance longterm
\ndebt (split into 2 tranches: one refinancing debt and one acquisition debt). The equity and senior
\ndebt closing occurred on the same day. The shareholding structure of Urbis Park Infrastructures is divided
\nas follows: MCIF (85%), Transdev Stationnement (10%), Caisse d\u2019Epargne CEPAC (3%) and Caisse
\nd\u2019Epargne Aquitaine Poitou-Charentes (2%).<\/p>\n
The senior debt was arranged by the leading bank of the Mediterranean Arc and overseas, Caisse
\nd\u2019Epargne CEPAC, and provided by the latter, Caisse d\u2019Epargne Aquitaine Poitou-Charentes and three
\nother financial institutions.<\/p>\n
Alongside this transaction, Transdev Group, subsidiary of Caisse des D\u00e9pots and a world leader in
\nmobility, closed the acquisition of Urbis Park Services, the operating company of Urbis Park Group,
\nthrough its subsidiary Transdev Stationnement. Urbis Park Services will keep serving as operator of the
\nfour parking concessions. Also, Mirova and Transdev Stationnement signed a long-term business
\npartnership to team up on further projects.<\/p>\n
Mounir Corm, Mirova\u2019s Deputy Head of General Infrastructure and Fund Principal, commented: \u201cUrbis \u201cWe are very pleased to be able to make an interesting investment in these strategic assets with a long Mirova was advised by Bird & Bird (Legal), KPMG (financial and due diligence), Fidal (Tax), Gras Savoye Mirova, a wholly owned subsidiary of Natixis Asset Management dedicated to responsible investment, is
\nPark Infrastructures represents an excellent investment opportunity for our investors. The underlying
\nassets offer robust long-term revenues thanks to the strength of economic and demographic factors of the
\nareas they operate in. There is also potential for tremendous benefits for the local municipalities and
\ncommunities in urban mobility developments, and we are excited to help make that happen. Also, we look
\nforward to developing our partnership with Transdev Stationnement on further transactions\u201d.<\/em><\/p>\n
\noperating history and good prospects for long-term income,\u201d <\/em> said Romain Uthurriague, Senior Investment
\nManager at Mirova and in charge of this transaction. \u201cThanks to the financial engineering and legal
\nstructuring we put into that transaction we have developed an AssetCo-OpCo model[[AssetCo-OpCo model: Funding is provided by the \u201cAsset Company\u201d, majority held by MCIF. The operating
\nside is undertaken by Transdev Stationnement via an \u201cOperating Company.\u201d]]\nthat fits perfectly
\nwith our core infrastructure strategy.\u201d<\/em><\/p>\n
\n(Insurance), and Currie & Brown (technical) and Sareco (traffic). Herbert Smith Freehills acted as legal
\nadviser for the arranger and lenders.<\/p>\n","protected":false},"excerpt":{"rendered":"
\npleased to announce that its EUR 700M fund dedicated to brownfield regulated infrastructures in
\nContinental Europe, MCIF, has completed the purchase of a majority stake in French parking concessions
\non December 20, 2016.<\/p>\n","protected":false},"author":20,"featured_media":60074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1655,1651,2007,2139,1680],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/60076"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=60076"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/60076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/60074"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=60076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=60076"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=60076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}