La Défense, 27 September 2021
Indigo Group S.A. – Agreement Signed with LAZ Karp Partners for The Sale of Its 50% Interest in LAZ Karp Associates
The Group is continuing its strategy to restructure its portfolio of non-controlled and non-infrastructure joint ventures. Following the recent disposal of its 50% stake in the Panamanian company City Parking Panama, which triggered the end of its operations in Panama, the Group signed, after the approval of the consolidated accounts of 30 June 2021, an agreement with its historical joint-venture partner LAZ Karp Partners ("LKP") providing for the sale of its 50% interest in LAZ Karp Associates ("LKA"). The purchase and sale agreement between the Group and LKP is conditional on LKP obtaining financing before December 31, 2021. LKA, a joint venture accounted for under the equity method in the Group's consolidated financial statements, operates exclusively in the United States, mostly under management contracts and short-term leases. The potential disposal of LKA's interest is aligned with the Group's strategy consisting in prioritizing markets where the Group holds a controlling position and sees opportunity to become a major infrastructure player.
|Analysts / investors contact:||Press contact:|
|Noe Poyet||Benjamin Voron|
About reported financial figures
To make its performance easier to understand and to improve its presentation, the Group presents operational figures (revenue, EBITDA, operating income) on a “Global Proportionate” (GP) basis, including the Group's share of joint ventures (mainly in the USA, Colombia, and Smovengo in France) as if they were consolidated proportionately and not under the equity method applied in accordance with IFRS when preparing the consolidated financial statements.
For more information on published financial and operational data, you can click on the following link: https://www.group-indigo.com/en/information-data/
About Indigo Group S.A.
Indigo Group, holding about 100% of Indigo Infra, OPnGO and INDIGO®weel, is a key global player in car parking and urban mobility, that manages more than 2.3 million parking spaces and related services in 11 different countries.
Indigo Group is indirectly held at approximately 47.5% by Crédit Agricole Assurances, 33.2% by Vauban Infrastructure Partners, 14.4% by MEAG, 0.5% in treasury shares and the remaining by the management.
The information in this document has been included in good faith but is for general informational purposes only. All reasonable care has been taken to ensure that the information contained herein is not untrue or misleading. It should not be relied on for any specific purpose and no representation or warranty is given with regards to its accuracy or completeness. It should be read together with the information on Indigo Group S.A. (the “Company”) published on its website at www.group-indigo.com
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities. Its making does not constitute a recommendation regarding any securities. Nothing herein may be used as the basis to enter into any contract or agreement.
This document may contain forward-looking objectives and statements about the Company's financial situation, operating results, business activities and expansion strategy. Although based on reasonable assumptions, those objectives and statements are subject to numerous risks and uncertainties, including matters not yet known or not currently considered material by the Company, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. All forward-looking statements are management's present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The information is valid only at the time of writing and the Company does not assume any obligation to update or revise the objectives on the basis of new information or future or other events, subject to applicable regulations. Additional information on the factors and risks that could have an impact on the Company's financial results is contained in the documents filed by the Company with the French securities regulator (AMF) and available on its website at www.group-indigo.com.
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