LOCAL 8 WEATHER ALERT: Strong to severe storms are possible tonight with gusty winds near 40 mph and 1" hail. Localized flooding is also a concern as these storms will produce brief heavy downpours.
Nashville (AP) -- Parking service provider Central Parking Corporation says it has agreed to be bought out by private equity firms for more than $726 million dollars in cash.
The Nashville-based company says its board approved the offer, which amounts to $22.53 per share, by Kohlberg & Company LLC, Lubert-Adler LP and Chrysalis Capital Partners LP.
At the end of December, Central Parking owned about 3,100 parking facilities, with about 1.5 million parking spaces, in North America, South America and Europe.
Copyright 2007 by the Associated Press. All rights reserved.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.