Hong Kong Investor Group Acquires Park'N Fly Business
|Areas||Competition, Antitrust and Foreign Investment, Intellectual Property|
Goodmans acted as regulatory counsel to the owners of Canada's largest off-airport and only national car park company, Park'N Fly, in the sale of their parking business assets, including all real estate used in connection with the business located in Montreal; Ottawa; Toronto; Edmonton and Vancouver, along with goodwill and other operating assets, to a joint venture led by Cheung Kong Infrastructure Holdings Limited and Cheung Kong (Holdings) Limited, both companies whose shares are traded on the stock exchange of Hong Kong, each owning a 50 per cent interest.
Park'N Fly provides off-airport car park solutions in Toronto, Montreal, Edmonton, Ottawa and Vancouver. It operates its off-airport car park business in Vancouver through a joint venture and licenses its brand name to the Halifax International Airport Authority (“HIAA”) for use in HIAA's off-airport car park.