Australia's AMP Capital JV to acquire U.S. parking system for $370 million

May 18, 2016 10:42 PM

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SYDNEY Australian wealth manager AMP Capital on Thursday said it has reached a deal to acquire the largest U.S. underground parking system for $370 million in a joint venture with private equity firm Northleaf Capital Partners.

The acquisition gives the joint venture exclusive concessionaire rights and responsibilities to operate, manage, maintain and collect parking fees and other revenue in connection with Chicago Downtown Public Parking System, AMP Capital said in a statement.

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