Another bidder has been unveiled for Center Parcs in the form of a Singaporean sovereign wealth fund.
It follows news that a vehicle managed by private equity giant CVC Capital Partners was considering putting forward an offer to buy the holiday resorts chain’s six UK and Ireland sites.
Now, according to reports from Sky News, Government Investment Corporation (GIC) is in talks regarding a joint bid for Center Parcs with private equity investor KSL Capital Partners.
GIC previously showed interest in the Nottinghamshire-headquartered business in 2015, when it joined up with CVC Capital Partners to make an offer, but lost out to Canadian private equity firm Brookfield, who bought the business for around £2.4bn.
Center Parcs was put up for sale last month (May) by Brookfield with a £4-5bn price range.
Infrastructure funds, including Antin, are also exploring offers for the company, according to Sky News’ city sources.
The first UK Center Parcs location opened at Sherwood Forest in Nottinghamshire in 1987. Today, Center Parcs serves over 2 million guests per year with a 98% occupancy rate.
