Abu Dhabi's Mubadala Makes €1bn Bid for French Leisure Operator
4 Articles
4 Articles
The French parent company of holiday park chain Center Parcs may fall into the hands of a sovereign wealth fund from the United Arab Emirates. Mubadala Capital has made a binding offer of nearly one billion euros for Pierre & Vacances-Center Parcs (PVCP). A year ago, the French company already announced that it was exploring "strategic options," in which PVCP intended to proceed with a full or partial sale of the company. The group has more than…
Abu Dhabi's Mubadala makes €1bn bid for French leisure operator
Abu Dhabi's Mubadala Capital has made a binding offer to acquire French leisure operator Pierre & Vacances-Center Parcs in a deal valuing the company at around €1 billion.Pierre & Vacances operates a portfolio of more than 45,000 apartments, houses and villas located across 330 sites in Europe. Its brands include Center Parcs, maeva and Adagio.The board of directors of Pierre & Vacances has unanimously welcomed Mubadala Capital's offer of up to …
Pierre & Vacances has received a binding offer from Mubadala Capital, investment vehicle of the government of Abu Dhabi. The proposed transaction contemplates the acquisition of all the values in circulation of the French giant through a public offer of voluntary acquisition in cash. Mubadala offers 1,90 euros per ordinary share with dividend and 1,79 euros per ordinary share without right to dividend, with the possibility in both cases to add a…
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