APCOA PARKING Group receives English High Court sanction of Schemes of Arrangement to extend final debt maturity in order to implement refinancing with lenders

http://apcoa.com/press/press-releases/article/apcoa-parking-group-receives-english-high-court-sanction-of-schemes-of-arrangement-to-extend-final-d/

Stuttgart/London, 16 April 2014 – At a sanction hearing held at the High Court of Justice, Chancery Division, in London, on Monday, the Court sanctioned Schemes of Arrangement between companies in the APCOA PARKING Group and their lenders in order to extend the Group’s debt maturity by a minimum of three months to 25 July 2014.

Stuttgart/London, 16 April 2014 – At a sanction hearing held at the High Court of Justice, Chancery Division, in London, on Monday, the Court sanctioned Schemes of Arrangement between companies in the APCOA PARKING Group and their lenders in order to extend the Group’s debt maturity by a minimum of three months to 25 July 2014. Creditors' votes by value in support of the Schemes reached between 86.9 percent and 100 percent of the relevant outstanding indebtedness.

Monday’s court ruling now provides the time needed by the APCOA PARKING Group to implement a refinancing with its lenders, which will significantly deleverage its balance sheet. APCOA aims at successfully completing the refinancing by mid-2014.

In September 2013, refinancing negotiations with the lenders to the APCOA PARKING Group commenced in respect of the repayment of loans that were about to fall due and which arose from the acquisition of the Group in 2007. The objective of the negotiations is to considerably reduce APCOA's debt. A clear majority of the creditors have stated that, in principle, they will support the recapitalization proposed by APCOA. Back in November 2013, the lenders, under the lead of Centerbridge Partners LP, have already provided bridge financing in the amount of 50 million Euro to secure the refinancing phase.

Contact:
APCOA PARKING Holdings GmbH
Tilman Kube
Flughafenstr. 34
70624 Stuttgart-Airport
T: +49 711-94791-0

About APCOA PARKING
APCOA PARKING Group is the leading European parking manager. More than 40 years of operational experience and innovation, the combined know-how from 12 European countries, an annual turnover of € 678 million, and a highly diversified portfolio distinguish APCOA PARKING Group from competitors. This business clout, quality of service and stability offered to private and public proprietors keep APCOA PARKING Group in the European top position. More than 30 European airports have chosen APCOA to manage their parking facilities, making the company the market leader in this segment, too.
The group currently manages around 1.3 million parking spaces at more than 7,400 locations in Europe. All car parks are managed on the basis of local know-how, individual contracts, tailor-made technical solutions and customer-oriented services. APCOA’s international expertise and innovative clout is powered by 4,700 employees. APCOA Group headquarters are located in Stuttgart (Germany).

www.apcoa.com

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APCOA PARKING Study shows: Women park quicker than men Youth isn’t the measure for better parking

http://apcoa.com/press/press-releases/article/apcoa-parking-study-shows-women-park-quicker-than-men-youth-isnt-the-measure-for-better-parking/

Stuttgart, 8 April, 2014 – A study conducted by APCOA PARKING, Europe’s leading parking managers, surprisingly concluded that younger drivers are less competent at parking than their elder counterparts.

Stuttgart, 8 April, 2014 – A study conducted by APCOA PARKING, Europe’s leading parking managers, surprisingly concluded that younger drivers are less competent at parking than their elder counterparts.

In Cologne, Frankfurt, Stuttgart and Karlsruhe, students of the Duale Hochschule Baden-Württemberg (DHBW) at Mannheim, surveyed hundreds of car drivers, took note of the time they required to park, and interviewed them.

In the group comprising drivers 18 to 25 years old, it took drivers on average 22 seconds to park their cars. While drivers in the group of 55 to 65 years on average only required 15 seconds to complete the parking manoeuvre. The study also gauged how many steering movements each group required to complete a movement. It found that those aged between 55 to 65 years old required just 1.6 steering movements to complete a manoeuvre, whereas their younger counterparts averaged 1.8 steering movements.

Women park faster than men
In direct comparison with their male counterparts, women proved to be quicker in parking.  In fact, the study found that women drivers required just 17 seconds to park, while men took three seconds longer, although female drivers used slightly more steering movements to park (1.62) in comparison to their male counterparts (1.5). Electronic park distance controls turned out to be real “time gluttons”.  On average, drivers using the device required 21 seconds to park, while cars without the device were parked in just 15 seconds.

Contact:
APCOA PARKING Holdings GmbH
Tilman Kube
Flughafenstr. 34
70624 Stuttgart-Airport
T: +49 711-94791-0

About APCOA PARKING
APCOA PARKING Group is the leading European parking manager. More than 40 years of operational experience and innovation, the combined know-how from 12 European countries, an annual turnover of more than € 700 million, and a highly diversified portfolio are distinguishing APCOA PARKING Group from competitors. This business clout, quality of service and stability offered to private and public proprietors keep APCOA PARKING Group in the European top position. More than 30 European airports have chosen APCOA to manage their parking facilities, making the company the market leader in this segment, too.
The group currently manages around 1.3 million parking spaces at more than 7,400 locations in Europe. All car parks are managed on the basis of local know-how, individual contracts, tailor-made technical solutions and customer-oriented services. APCOA’s international expertise and innovative clout is powered by 4,700 employees. APCOA Group headquarters are located in Stuttgart (Germany).

www.apcoa.com 

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Press contact

APCOA PARKING Holdings GmbH

Sebastian Merkle
Flughafenstr. 34
70629 Stuttgart-Airport
T: +49 711-94791-652

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