Milbank Advises Strategic Value Partners, LLC on its Acquisition of the APCOA Parking Group

Milbank LLP has advised global investment firm Strategic Value Partners, LLC (“SVP”) on its acquisition of the entire remaining equity stake in the APCOA Parking group (“APCOA”) from Centerbridge Partners L.P and other minority investors.

APCOA provides car park management services across 13 countries in Europe and operates more than 1.8 million parking spaces in over 400 cities with approximately €900 million in annual revenues. Legacy SVP funds have been minority shareholders in APCOA since 2014. The transaction completed following receipt of customary approvals.

Notably, this is among the first transactions that was notified to the European Commission under the EU’s new Foreign Subsidies Regulation (“FSR”). The FSR is a new merger control system which took full effect on 12 October 2023. Our team guided SVP through this new system as well as filing the notification to the European Commission.

The Milbank team was led by London Global Corporate partner Andrej Wolf with support from Mounir Haddad, Kate Meils and Adam Chang (Global Corporate/M&A, London); Yushan Ng and Caroline Vorce (Restructuring, London); Trevor Truman (Corporate Finance and Securities, London); Andrew Callaghan and Cosmos Fung (Tax, London); Andrea Hamilton, Marlies Zeck and Charlie Thomas (Antitrust, London and Munich); Sebastian Heim, Mahmood Kawany and Lucas Stumpf (Corporate, Munich); Martin Brennan and Connor Clune (Alternative Investments, London) and Bijan Ganji and Ethan Heben (Transportation and Space, Washington, DC).