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Press room
News
17/10/2016
Saba formalizes the sale of its logistics parks division for €115 million and strengthens its capacity for growth and geographical diversification
  • The company is awarded 4,500 parking spaces at Arturo Merino Benítez International Airport in Santiago Chile, the fifth busiest airport by passenger traffic in South America

Saba has formalized a final agreement with Merlin Properties for the sale of Saba Parques Logísticos, a company that holds the titles or shares to five logistics parks, for a total of €115 million. The transaction includes the assets of Cim Vallès (Barcelona) and Lisboa Norte in Portugal, as well as shares in Parc Logístic de la Zona Franca (Barcelona), Sevisur (ZAL Puerto de Sevilla) and Arasur (Álava).

The sale of Saba Parques Logísticos forms part of the company’s strategic plan to restructure its assets and reinforces the growth and internationalization strategy pursued by Saba in recent years. With this transaction, Saba brings to a close a period in which it has carried out four successive divestment operations, which total €300 million in equity capital, thus maximizing the value of the line of business and facilitating important operations in car parks such as Adif and Bamsa and CPE in Portugal, further strengthening the capacity of Saba to continue growing in the car park activity.

Regarding the company’s sustained growth, the President of Saba, Salvador Alemany, has noted that since 2011, “Saba has increased its number of car parks by 80% up to 371, and its parking spaces by 43% up to 195,000. The cumulative expansion investment reaches €482 million”. He also added that Saba “will stay committed to growth as one of its driving forces, just as it will continue to stress the identification of opportunities and geographical diversification, always from a selective viewpoint”.

For his part, Saba’s CEO, Josep Martínez Vila, recalled that in five years “Saba has undergone an internal transformation that has allowed it to increase its operational efficiency, as well as develop active contract management and seize growth opportunities at the same time”. “Moreover, Saba has implemented both technological and transformative sales initiatives, such as VIA T (OBE), the Saba app, the new business website for the online sale of products, the new vehicle guiding system and optical reader ATMs, among others, and has thus become a benchmark in the sector,” he noted.

Growth in Chile

Saba continues to close growth operations. In Chile, the company has been awarded the car park management contract for the country’s largest airport, located west of Santiago. The Santiago International Airport is an important hub between South America and North America, and Europe and Oceania. In 2015, it served a total of 18 million passengers, making it the fifth most important airport in South America.

The contract signed between Saba and Nuevo Pudahuel, the airport concession company, calls for the management of 4,500 parking spaces distributed over three locations for a duration of three years, with the possibility of a two-year extension. The airport is in the process of constructing a new terminal and extending the car park by 7,800 parking spaces.