Abu Dhabi fund makes €1 billion bid for Pierre & Vacances-Center Parcs

Mubadala Capital, an investment fund owned by the Abu Dhabi government, has made a binding offer to acquire French tourism group Pierre & Vacances-Center Parcs in a deal valuing the company at around €1 billion.

The group has a significant presence in Belgium, operating seven holiday parks under the Center Parcs and Sunparks brands, as well as several Adagio aparthotels in Brussels.

The offer has been welcomed unanimously by the company’s board after a year-long strategic review and discussions with several potential investors.

Mubadala is offering €1.90 per share, with a possible additional €0.10 per share if it succeeds in taking the company private and removing it from the stock market. The bid represents a significant premium compared with the company’s share price before the strategic review was announced last year.

However, the deal is not yet guaranteed. Mubadala must secure commitments from shareholders representing at least 80 per cent of the company’s share capital by 17 July. The group’s three largest shareholders, who together control nearly 60 per cent of the shares, have already expressed support for the transaction.

Pierre & Vacances-Center Parcs operates holiday parks, hotels and holiday residences across Europe under brands including Center Parcs, Sunparks, Adagio and Maeva. The group welcomed almost eight million customers and generated €1.95 billion in revenue in its most recent financial year.

If the conditions are met, the formal takeover offer is expected to be launched in early 2027, subject to regulatory approvals.

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