Leisure village operator Center Parcs has agreed to a £205.4m takeover by private investment company Blackstone Group.
Center Parcs’s directors have recommended shareholders vote for the Blackstone deal, which values each company share at 80p.
This is a 16% premium over the closing share price of 69p on 8 March.
Center Parcs has four villages in the UK, and announced last December the location for a fifth in Warren Wood, Bedfordshire.
In the same month the company announced its profits in the first six months of the year had fallen by a third after it sold its education business.
Blackstone recently sold London’s Great Eastern Hotel - which Conran Restaurants was also a shareholder in - to Hyatt Corporation for an undisclosed sum.
Great Eastern hotel sold >>
Center Parcs signs Jersey deal >>
Center Parcs finance director to move to William Hill >>
Center Parcs profits fall by a third >>
By Chris Druce
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