Deals
Centerbridge’s Parking Firm Apcoa Seeks German State Aid
- Deal may mark first private equity-owned firm to get state aid
- Centerbridge took over Apcoa in a debt restructuring in 2014
Photographer: Axel Heimken/picture alliance via Getty Images
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Apcoa Parking is in the process of securing financial aid from the German government to help it see through the loss of revenue in its main market due to the coronavirus lockdown.
The parking manager, owned by U.S. private equity firm Centerbridge Partners, is in negotiations with German state-owned lender KfW for new loans, said the people, who asked not to be identified because the information is private. If Apcoa secures a deal, it will be among the first private equity-owned firms in Europe to receive state funds.