Car park operator NCP could be sold by its owner following a strategic review.
Cinven is understood to have asked investment bank Citigroup to advise on a possible sale or refinancing of NCP, which owns 600 car parks in the UK, including 11 in Brighton and Hove, and employs 4,000 staff.
According to reports, no final decision has been taken but a deal could value the business at about £500 million.
NCP has been in business for more than 70 years and has built up a portfolio which includes car parks at Gatwick and Heathrow.
It also manages on-street enforcement in Brighton and Hove, Lewes and the congestion charge in London on behalf of transport authorities.
Turnover at NCP last year rose to £400 million and pre-tax profits totalled £40 million.
Its property assets in the UK are valued at £392 million.
April 11, 2005
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