Australia's largest car parking businesses Secure Parking is selling a majority interest in its operations to Japan's largest car park operator Park24 for $227 million.
Secure has about 38 per cent market share in Australia while the second largest player Wilson Parking, backed by billionaire Hong Kong-based Kwok family, has about 33 per cent.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter.
