Canadian investment group Brookfield is in talks on a £2.4bn deal to buy up-market holiday park group Center Parcs from Blackstone, the US private equity giant.
Sources familliar wih the deal confirmed to Property Week Brookfield has entered exclusive talks for the holiday village business, but, should the talks fail, Blackstone is also considering floating the business on the stock market. Last month, Blackstone appointed four investment banks to examine a possible float.
Private equity giants CVC and KSL Capital Partners had been among the parties circling Centre Parcs, which runs five resorts across the UK. CVC put in a joint offer with Singapore’s sovereign wealth fund, while Canadian pension fund CPPIB tabled a bid with KSL.
Center Parcs runs five holiday villages in the UK, including sites in Wiltshire, Nottinghamshire and Cumbria. The company reported pre-tax earnings of £147m last year, up from £140m in the previous year.
Brookfield, which recently took joint control of Canary Wharf, in a £2.6bn deal, specialises on property, renewable power and private equity.