Abu Dhabi's Mubadala Capital has made a binding offer to acquire French leisure operator Pierre & Vacances-Center Parcs in a deal valuing the company at around €1 billion.
Pierre & Vacances operates a portfolio of more than 45,000 apartments, houses and villas located across 330 sites in Europe. Its brands include Center Parcs, maeva and Adagio.
The board of directors of Pierre & Vacances has unanimously welcomed Mubadala Capital's offer of up to €2.00 per share.
Georges Sampeur, chairman of the board of directors of Pierre & Vacances, said the binding and fully financed offer "marks a decisive milestone in the strategic review launched in June 2025".
Offer unanimously welcomed
"Following a rigorous and competitive process, it recognises the value of our group, the relevance of our local tourism model and the strong growth potential of our brands," he added.
The company welcomes "the interest of a leading investor with a global reach and a long-term perspective, who is investing first and foremost in our vision, our teams and our ability to continue growing", Sampeur said.
Mubadala Capital is the alternative asset management arm of Mubadala Investment Company, one of the sovereign wealth funds of the government of Abu Dhabi.
Antoun Ghanem, partner at Mubadala Capital, said the offer reflects the company's "conviction in the European leisure and hospitality sector and in the long-term potential of the group's brands".
Shares valued at up to €2.00 each
Mubadala Capital will support "the execution of the group's strategic plan, providing long-term capital and operational partnership", he said.
"This transaction follows Mubadala Capital's recent take-privates in North America and builds on its direct experience in European leisure," Ghanem added.
The deal remains subject to ongoing discussions with shareholders, "each of whom, in their own way, is an essential link in making this project a reality", said Sampeur.
Image courtesy of Pierre & Vacances-Center Parcs
