La Défense, 31 December 2021
Indigo Group S.A. sold its 50% stake in LAZ Karp Associates LLC, following its repositioning strategy to infrastructure markets
On 30 December 2021, Indigo Group's US holding concluded the sale of its 50% interest in LAZ Karp Associates LLC to its historical joint-venture partner LAZ Karp Partners LLC , consistently with the terms of the agreement signed on 27 September 2021. This disposal 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. The proceeds from the sale provide Indigo Group with improved S&P financial ratios and enhanced liquidity to meet its future financing needs, and especially for its future developments in infrastructure projects. Following this transaction, the Group's operations in the United States are limited to the majority-owned Hudson Tea car park of 1,250 spaces located in Hoboken, New Jersey.
Serge Clémente, President of the Executive Board of Indigo Group, said: “I would like to thank our partners at LAZ Karp Partners and its CEO Alan Lazowski for our 15 years of exceptional partnership which has led to the fastest growing and second largest parking company in the country. The North American market remains at the heart of our strategy thanks to our wholly-owned subsidiary in Canada where we benefit from an excellent management team, a well-diversified portfolio, and new opportunities in adjacent services such as last mile services and EV charging.”
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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 c. 1.2 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 remainder by its 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
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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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