Central Parking Corporation Completes Sale of European Operations.NASHVILLE, Tenn. -- Central Parking Corporation today announced that it has completed the sale of its European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. operations to the APCOA Group. The sale includes the Company's operations in the United Kingdom, the Republic of Ireland, Spain and Switzerland. The Company's operations in Poland were sold previously to APCOA. Excluded from the sale was the Company's interest in its joint venture in Greece. The financial terms of the transaction were not disclosed. "We are very pleased with this transaction, which is consistent with our previously announced strategic plan," said Emanuel J. Eads, President and Chief Executive Officer of Central Parking Corporation. "One of the key components of our strategic plan is the divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of operations in markets in which the Company has a small market share and significant barriers to growth. Despite having a presence in the United Kingdom since 1991, our European operations accounted for less than three percent of company revenues last year. Moreover, our operations in these countries were largely stand alone businesses with virtually no common clients or synergies with the rest of our company. Given our relatively low market share in these countries and the multiples being paid for parking companies in Europe, we viewed this as an opportune op·por·tune adj. 1. Suited or right for a particular purpose: an opportune place to make camp. 2. Occurring at a fitting or advantageous time: an opportune arrival. time to sell these operations." Prior to completing this transaction, the APCOA Group had operations in 13 countries across Europe. The group manages more than 3,500 car parks providing some 760,000 parking spaces, and employs approximately 2,800 employees. It manages town center car parks as well as shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into , airport and hospital parking. Central Parking Corporation, headquartered in Nashville, Tennessee “Nashville” redirects here. For other uses, see Nashville (disambiguation). Nashville is the capital and the second most populous city of the U.S. state of Tennessee, after Memphis. , is a leading provider of parking and transportation-related services. As of June 30, 2007, the Company operated approximately 3,000 parking facilities containing approximately 1.4 million spaces at locations in 37 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Canada, Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. , the United Kingdom, the Republic of Ireland, Chile, Colombia, Peru, Spain, Switzerland and Greece. |
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