You are here: Home / News / Financial news / Archive 2016 / TKH sells activities in management and operations of parking facilities

TKH sells activities in management and operations of parking facilities

TKH Group NV ("TKH") today announces that it has reached agreement about the sale of its 51% stake in Parking & Protection B.V. ("P&P") to Interparking Netherlands B.V. in Rotterdam. P&P focuses on the management and operations of parking facilities, particularly for hospitals and urban environments. The activities belong to the Building Solutions segment of TKH and are considered non-core, whereas the focus of TKH is on developing advanced own technologies and offering total solutions.

Interparking focuses entirely on the exploitation of parking facilities, with which the growth opportunities for P&P are properly ensured. TKH will further concentrate its activities on providing technology solutions for parking.

The Interparking Group, also part of AG Insurance, AG Real Estate and Canadian Pension Plan Investment Board (CPPIB), operates in 9 European countries with more than 750 car parks and over 350,000 parking spaces.

The transaction will, besides a one-off income, have limited impact on the earnings per share of TKH. In 2015 P&P realized a turnover of € 5.7 million with 31 employees (FTEs).