Center Parcs owner to mull sale of holiday resort chain
The owner of Center Parcs UK is preparing to conduct a strategic review of the business with a view to explore a potential sale or stock market listing.
Brookfield Property Partners, a subsidiary of Canadian firm Brookfield Asset Management, is preparing to appoint advisors to weigh up options for the UK holiday chain, Sky News reported.
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Center Parcs runs six holiday villages across the UK and Ireland, offering activities such as watersports and horseriding.
Neither Brookfield or Center Parc’s board have firmed up the timing of the process, however a sale or initial public offering is expected to be considered over the next few months, the broadcaster reported, citing sources.
Brookfield, which acquired the company in 2015, could decide to hold on to the ownership of the holiday operator for longer, and any transaction would not take place until next year at the earliest.
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Center Parcs was floated on London’s AIM market in 2003, before moving to the main market in 2005. Private equity giant Blackstone took the business private in 2006 before it was sold to Brookfield for a reported £2.4bn.
The business is reportedly worth closer to £3bn now, sources told Sky News.