Ashurst advised DNB Bank ASA, Bank of Ireland and Mizuho Bank Ltd, with respect to the refinancing of APCOA PARKING Group ("APCOA" or "The Group"). The leading European car park manager reached agreement with its key lenders and finance investor Eurazeo regarding the modalities of its refinancing. Eurazeo acquired APCOA in 2007 from private equity company Investcorp for €885 million.

As a result of the agreement, APCOA's balance sheet has been significantly deleveraged, reducing its debt by more than €440 million and providing up to six year terms for the refinanced facilities and €80 million of additional financing to support the Group's projected growth.

Ashurst advised with a multi-practice team from five offices led by Munich-based banking partner Sebastian Schoon supported by senior associate Carsten Endres, associate Dr Thomas Freund and transaction manager Susanne Kasnitz (all banking, Munich). From the London office, banking partner Jane Fissenden advised, assisted by associates Vanessa Hunter and Emma Sandall, corporate partner David Carter was assisted by associate Vitaly Shmakov, and restructuring partner Dan Hamilton was supported by senior associate Olga Galazoula. In addition, lawyers from the Ashurst offices in Brussels, Milan and Stockholm also advised.

The APCOA Group currently manages over 1.4 million parking spaces. The group's headquarters and the German branch are located in Stuttgart.