Mubadala Capital has submitted a bid of $1.1 billion for Pierre & Vacances-Center Parcs, the operator of leisure resorts in France, including the eco-resort Les Villages Nature Paris, located near Disneyland Paris. The bid was confirmed by the Abu Dhabi sovereign wealth fund's asset management subsidiary, which manages approximately $430 billion in assets globally, according to the company.
Key Details
Pierre & Vacances operates over 45,000 accommodations across 330 sites in Europe and reported revenues of $2.2 billion (€1.9 billion) last year. The company, founded in 1967, is known for its Center Parcs brand, which features forest resorts with indoor water parks. The eco-resort Les Villages Nature Paris, co-developed with Disney, opened in 2017 and includes geothermal heating and a car-free design, enhancing its appeal as a sustainable tourism destination.
Background
The acquisition aligns with Mubadala's strategy of investing in long-term growth opportunities. The company has a diverse portfolio that includes significant investments in various sectors, including hospitality and technology. This move could further bolster its presence in the European leisure market.
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Sources: forbes.com, forbes.com.
The bid for Pierre & Vacances-Center Parcs could influence the leisure and hospitality sectors in Europe, particularly in the eco-tourism segment. Investors may monitor how this acquisition affects competitive dynamics in the region, especially for companies involved in sustainable tourism initiatives.
Watch for further developments on the bid as the company awaits a response from Pierre & Vacances regarding the offer.