Investcorp, the Middle East investment group, has cleared the final hurdle in its acquisition of Apcoa Parking, the car park operator, after winning European Commission approval this week.

Investcorp has bought a 98.26% stake in German-based Apcoa, which operates thousands of parking lots across Europe, for an undisclosed sum. EnBW, the German electricity utility, sold the business as part of its programme of divesting or closing hundreds of non-core operations.