EQT launches €630m bid for Parques Reunidos

Piolin Bidco,which includes Swedish private equity firm EQT has launched a takeover bid for Parques Reunidos.

Piolin Bidco, which is made up of EQT, Miles Capital and Alba, is offering €630.7 million (€14 per share) for 55.79 percent of the company.

The offer values Parques Reunidos at around $1.3 billion.

Miles Capital, via Groupe Bruxelles Lambert, and Alba, together own just over 44 percent of Parques Reunidos shares. The new offer is for the rest of the company.

Parques Reunidos is one of the leading global operators of regional leisure parks. The group has a portfolio of more than 60 attractions including zoos, aquariums and waterparks across Europe, North America, the Middle East and Australia.

Parques Reunidos properties welcome around 20 million visitors every year.