Wealth funds eye £2.5bn Center Parcs

Blackstone, the American buyout group that has owned Center Parcs since 2006, has invited bids

Singapore and Abu Dhabi’s sovereign wealth funds are thought to be among a group of institutions considering bidding for the holiday village operator Center Parcs.

Blackstone, the American buyout group that has owned Center Parcs since 2006, has invited bids as it looks to offload the business.

The Abu Dhabi Investment Authority and GIC, the Singaporean sovereign wealth fund, are both reportedly interested in a bid for the company, which is valued at £2.5bn. Private equity groups including RAC owner Carlyle and Formula One owner CVC are also said to be looking.

Blackstone plans to float Center Parcs later this year if it fails to receive a high enough offer.

Center Parcs made £147m last year, up from £140m in 2013.

Center Parcs declined to comment.

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