Cendant charges FD to handle takeover of NPC

Cendant, the US services group which is buying National Parking Corporation for pounds 801 million, has called in Financial Dynamics to handle PR for the takeover.

Cendant, the US services group which is buying National Parking

Corporation for pounds 801 million, has called in Financial Dynamics to

handle PR for the takeover.



NPC owns private car park network National Car Parks (NCP), Green Flag

Roadside Rescue, and airport coach business Capital Logistics.



The takeover, which has the backing of NPC directors, has caught the

public imagination because joint chairmen Sir Donald Gosling and Ronald

Hobson started by paying pounds 200 for a bomb site in Holborn in 1948.

They own roughly 72 per cent of NPC and will take pounds 580 million

from the deal.



Financial Dynamics will communicate the benefits of the deal for

Cendant, which will see it take control of 500 car parks in the UK.

Stephen Holmes, Cendant’s vice-chairman, has said that the NCP brand

will be taken into Europe and the US.



NPC’s PR has been handled by Ludgate Communications for the past 18

months but Cendant’s appointment of Financial Dynamics is likely to

affect this relationship. Nick Miles, chief executive of Financial

Dynamics, said: ’It’s too early to say if we’ll be retained by Cendant.’



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