Macquarie is expecting non-binding offers imminently for its Iberian car park business Empark, with bids likely from a handful of major infrastructure investors, sources familiar said.

The sources said that around half a dozen investors were expected to file NBOs for the end of Monday (15 December), including EQT Infrastructure, KKR and Stonepeak.

EQT, advised by Jefferies, was previously said to be in discussions with parking giant Indigo Group, which is owned by Credit Agricole Assurances, Vauban Infrastructure Partners and MEAG, to set up a consortium.

While Indigo is still said to be interested in Empark, one of the sources said that rather than setting up a consortium for a joint bid with EQT, Indigo might seek to acquire only parts of Empark to avoid competition issues and split the parking company’s assets with EQT later on.

KKR, advised by DC Advisory, is also expected to file a bid, as is Stonepeak, advised by Morgan Stanley, according to the sources.

AllianzGI has also been seeking a partner to file a joint bid and is widely expected to file an offer, according to the sources, while BlackRock’s Global Infrastructure Partners (GIP) and Igneo Infrastructure Partners have also been cited as likely bidders.

This news service previously also mentioned that DWS and Interparking have shown interest, but sources said their involvement now appears less likely.

Macquarie Asset Management (MAM) launched the process last month with the distribution of IMs, advised by Greenhill and JP Morgan. A final bid deadline for shortlisted bidders is expected around February.

Empark, which also trades under the name Telpark, is expected to fetch an enterprise value close to EUR 1.8bn. The business generated EUR 107.3m of adjusted EBITDA in 2024, while EBITDA grew by a further 14.6% in the first nine months of 2025 to EUR 90.6m.

The company, in which Macquarie invested in 2017 through its European Infrastructure Fund 5 (MEIF 5), manages more than 335,000 off-street and on-street parking spaces in some 150 cities in Spain and Portugal.

MAM, DC Advisory, EQT, GIP, Igneo, Interparking, Morgan Stanley and Stonepeak declined to comment. The other firms did not respond to requests for comment.