Mubadala Capital targets French tourism company

Mubadala Capital, the wholly owned asset management subsidiary of Abu Dhabi’s Mubadala Investment Company, has made a binding offer to acquire French tourism company Pierre & Vacances-Center Parcs for €1 billion ($1.1 billion).

Mubadala is offering €1.90 per share, with a possible top-up of €0.10 per share if it succeeds in squeezing out all shareholders to delist from European bourse Euronext Paris, the French company said in a statement.

The board of Pierre & Vacances-Center Parcs has unanimously welcomed the proposed transaction.

Mubadala has until July 17 to secure commitments from at least 80 percent of the company’s shareholders for the deal to proceed.

The French company’s three largest shareholders — Fidera Limited, Benefit Street Partners and Pastel Holding — which control nearly 60 percent of the shares, have expressed support for the proposed transaction.

The formal takeover offer is expected to launch in early 2027, subject to regulatory approvals.

Pierre & Vacances-Center Parcs operates holiday parks, hotels and holiday residences across Europe under brands such as Center Parcs, Sunparks, Adagio and Maeva. The group had nearly 8 million customers and generated €1.95 billion in revenue in the financial year 2024/25.

Shares in Pierre & Vacances-Center Parcs closed marginally higher at €1.86 on Monday.

In April, Mubadala said its assets under management rose nearly one-fifth to $385 billion in 2025.

North America accounts for 44 percent of its assets, while other notable regions include Europe (15 percent) and Asia Pacific (13 percent). The company has invested in more than 50 countries, according to its website.

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