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Report: Canada Pension Plan seeks to sell 39% stake in European car park manager

Canada Pension Plan Investment Board is looking to sell its 39% stake in European car park manager Interparking SA, Reuters reported, citing several sources close to the matter.

The pension fund tapped Citi to help study a potential sale, the report added, noting that concessions and car parks could garner the interest of private equity, infrastructure and pension funds.

One of the sources told the news agency that the enterprise value of Interparking could be in a range of €3 billion to €3.5 billion.

Canada Pension Plan, which acquired the Interparking interest in 2014 for 376 million, joins a list of companies, including Centerbridge Partners LP and Criteria, that are said to be seeking sales of their respective car parking businesses.

Reuters could not get a comment on the matter from Canada Pension Plan or Citi.