Center Parcs buyout would offer low thrills stay

Brookfield Property Partners LP

17/05/2023 10:01

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Yawen Chen
       LONDON, May 17 (Reuters Breakingviews) - Brookfield
plans to sell the British holiday park operator for up to 5 bln
pounds. The company’s unique assets and brand loyalty have made
it an appealing asset for private equity. But its own limits on
expansion and Britain’s cost-of-living crisis may now dent
returns.
       
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    CONTEXT NEWS
    Canadian private equity group Brookfield is seeking between
4 billion and 5 billion pounds for Center Parcs, the Financial
Times reported on May 15, citing people familiar with the
matter.
    Brookfield has appointed investment bankers who have been
sounding out potential buyers in the past week, which include
other private equity firms, the report said.
    Center Parcs confirmed in a statement dated May 16 that
Brookfield, the Group’s parent shareholder, is
"exploring strategic alternatives" for Center Parcs which "may,
or may not, result in a transaction".

 (Editing by Neil Unmack and Pranav Kiran)
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