The operation, already approved by competition authorities, is expected to be signed within the next few weeks, pending some administrative formalities. Market sources say that the assets considered have been sold for about €150 million.
The transaction is part of Saba's strategic plan to reorganise its asset portfolio in order to focus on its parking activity. Since 2011, Saba has invested €482 million to strengthen its car park business, increasing the number of car parks to 371 (an 80% rise) and of parking spaces to 194,000 (43% growth).
With the sale of the five logistics parks, Saba has handed over its remaining logistics assets and closed a process that began in 2012. Last year, Saba sold Cilsa, the managing company of the port concession of the Logistics Activities Area (ZAL) of the Port of Barcelona, for €32 million, also to Merlin Properties