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.’