Mubadala Capital, a global alternative investment platform, plans to acquire all outstanding securities of the Pierre & Vacances-Center Parcs (PVCP) Group. Freshfields Bruckhaus Deringer, an international law firm, has been engaged to advise Mubadala Capital on the debt financing for this transaction. The acquisition will take place by way of a voluntary cash offer. This acquisition marks a strategic step for Mubadala Capital, which will expand its presence in a vital European market segment.
The planned acquisition was preceded by a binding offer from Mubadala Capital. The PVCP Board of Directors unanimously endorsed this offer after thorough review. The official submission of the offer is expected by the first quarter of 2027 at the latest, subject to the fulfilment of certain conditions customary in such transactions. This careful planning underscores the complexity and scope of the upcoming transaction, which requires detailed financial and legal structuring.
Companies involved and their roles
The Pierre & Vacances-Center Parcs Group is known as the European market leader in the field of so-called redesigned local tourism. Its portfolio comprises more than 45,000 apartments, houses and villas operated across 330 locations in Europe. This is done under the four established tourism brands Pierre & Vacances, Center Parcs, maeva&co, and Adagio. This broad positioning has allowed the group to establish a significant market presence and cultivate long-term customer relationships.
Mubadala Capital acts as an independent alternative asset manager. The company has its own governance structure and a dedicated investment committee. Through its asset managers and strategic partnerships, Mubadala Capital manages, oversees, and administers assets totalling over USD 600 billion for a diversified base of institutional investors. Its expertise in managing large assets and its strategic focus on alternative investments are crucial for carrying out such extensive acquisitions.
The Freshfields team advising Mubadala Capital on this complex financing transaction is led by experienced finance partners Aled Batey and Stephanie Corbiere. They are supported by Senior Associate Samvel Der Arsenian. Their task is to manage the legal aspects of the debt financing and ensure a smooth execution. This is critical for the success of the acquisition in the dynamic environment of the European tourism sector.
