La Défense, May 03, 2023
Indigo strengthens its presence in South America by taking the majority control in City Parking in Colombia
Indigo Group, the world leader in parking and urban mobility solutions, has announced the majority takeover of City Parking, the leading parking operator in Colombia, through its subsidiary Indigo Infra Colombia. Its stake in the company has increased from 50% to 87.5%.
City Parking, founded 25 years ago in Bogota, employs 920 people, and operates 170 parking lots in 18 Colombian cities, with a total of nearly 44,000 parking spaces, including 7,800 spaces for motorcycles and 7,400 spaces for bicycles.
Indigo Group has confirmed Juan Felipe Luque Velasquez as Managing Director of the company that he joined in 2019.
This acquisition is in line with Indigo Group's international strategy, notably in South America, which aims to be a market leader where it operates with majority stakes in the companies it owns.
By acquiring 100% of City Parking in the near term, Indigo demonstrates its confidence in the company's continuous growth, particularly since the end of the pandemic.
Edouard Risso, Deputy Chief Executive Officer and Director of the Americas for Indigo Group, comments: "This majority control allows us to assert our confidence in the potential of the Colombian market after more than 6 years of presence with our partner. The recovery of the activity has been very strong post-COVID, and we have full confidence in the new management of the company to continue the development of the business which will allow us to consolidate our leadership position in this country."
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Indigo Group
| Analyst / Investor contact: | Press contact: |
| Mathieu Barnavon | Benjamin Voron |
| ir@group-indigo.com | benjamin.voron@group-indigo.com |
About the published financial data
In order to improve the readability and presentation of its performance, the Group presents operating data (revenues, EBITDA, Operating Income) referred to as "Global Proportionate" (GP), defined as the IFRS consolidated data presented in the Group's statutory consolidated financial statements adjusted for the share of the contribution of the Group's activities in the joint ventures it owns (mainly in Colombia and France, in Smovengo) or that it owned until December 30, 2021 in the United States (LAZ Parking), as if they were proportionally consolidated and not accounted for by the equity method, the latter being applied for the preparation of the consolidated financial statements in accordance with IFRS.
For more information on the published financial and operational data, you can click on the following link: www.group-indigo.com
About Indigo Group S.A.
The Indigo Group, which owns nearly 100% of Indigo Infra, Indigo Neo and INDIGO®weel, is a global player in parking and urban mobility, managing more than 1.4 million parking spaces and their associated services in 9 countries.
Indigo Group is indirectly 47.83% owned by Crédit Agricole Assurances, through Predica SA and Crédit Agricole Assurances Retraite, 33.38% owned by Vauban Infrastructure Partners and 14.44% owned by MR Infrastructure Investment GmbH (MEAG), and held 0.34% of its own shares in treasury, with the Group's management owning the remainder of the shares.
www.group-indigo.com
Notice
The information contained herein has been included in good faith but is intended for general information purposes only. All reasonable precautions have been taken to ensure that the information contained herein is not false or misleading. It should not be relied upon for any specific purpose and no representation or warranty is made as to its accuracy or completeness. This press release should be read in conjunction with the information about Indigo Group S.A. (the "Company") published on its website at www.group-indigo.com.
This press release 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 preparation does not constitute a recommendation regarding securities. Nothing in this document may be used as the basis for entering into a contract or agreement.
This document may contain objectives and forward-looking statements concerning the Company's financial condition, results of operations, business activities and expansion strategy. Although based on reasonable assumptions, these objectives and statements are subject to numerous risks and uncertainties, including factors not presently known to the Company or that it does not currently consider material, and there can be no assurance that the anticipated events will occur or that the stated objectives will be achieved. All forward-looking statements are the current expectations of the Company's management regarding future events and are subject to several factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The information is current only as of the date hereof and the Company assumes no obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. Additional information about the factors and risks that could affect the Company's financial results is included in the documents filed by the Group with the Autorité des Marchés Financiers and available on its website at www.group-indigo.com.
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