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Chinese companies bid to buy Europe's biggest parking service provider | Updated: 2017-03-04 11:17

Several Chinese companies are reportedly competing to buy Europe's biggest parking service provider Q-Park.

Hong Kong-based Cheung Kong Infrastructure Holdings Limited and Shanghai-based Fosun have delivered bidding applications to Q-Park with the transaction price likely exceeding $2.4 billion, reported

According to two insiders, China Oceanwide and Shougang Group also took part in the first round of bidding.

The Netherlands-based Q-Park is running 6,100 parking lots in ten European countries. Its net profit in 2015 reached 90.9 million euros ($96.55 million).

Infrastructure has become a new attraction for Chinese companies. In 2016, the world's second largest economy invested $19.5 billion in infrastructure overseas, with half of the amount floating to Latin America and one third to Europe, according to the UK-based Financial Times.

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