CVC planning £4bn Center Parcs takeover
CVC Capital Partners, the former owner of Formula 1 and the private equity backer of the Six Nations rugby championship is reportedly pursuing a £4bn takeover of Center Parcs.
The holiday resort chain was put up for sale by Canadian firm Brookwood in May, with a valuation of between £4bn and £5bn.
An investment vehicle managed by CVC is expected to deliver a proposal to purchase Center Parcs’ six UK and Ireland sites ahead of a deadline later this month, Sky News has reported.
A number of infrastructure funds, including French firm Antin, are also reportedly in the mix for the takeover of the leisure company.
Center Parcs was previously a publicly-owned company, before being taken over by private equity firm Blackstone in 2006 and later sold to Brookfield in 2015, in a deal worth a reported £2.4bn.
Blackstone is also rumoured to be considering taking over the company it once owned.
A deadline of June 20 is believed to have been set by advisers, with Bank of America, Barclays, and Eastdil Secured having been appointed to manage the sale.