Pierre & Vacances (P&V) is purchasing the Sunparks group, which operates four holiday villages in Belgium, for EUR 150 mln and debt. The move is part of P&V's strategy to expand its holiday village network in the country. P&V plans to sell and lease back the Sunparks sites before the end of 2007, the Paris-based company said in a statement. The parks are located in Kempen, in the Ardennes and on the coast. P&V has two holiday villages in Limburg in Belgium.
Pierre & Vacances (P&V) is purchasing the Sunparks group, which operates four holiday villages in Belgium, for EUR 150 mln and debt. The move is part of P&V's strategy to expand its holiday village network in the country. P&V plans to sell and lease back the Sunparks sites before the end of 2007, the Paris-based company said in a statement. The parks are located in Kempen, in the Ardennes and on the coast. P&V has two holiday villages in Limburg in Belgium.
P&V 'has bolstered its positions in the Belgian market and extended its own offering in the three- to four-star category,' the company said. Sunparks had a turnover of EUR 40 mln and an operational cash-flow of EUR 12.7 mln in 2006.
Listed on Euronext Paris, P&V is Europe's largest provider of holiday homes and apartments. In 2000 and 2001, it bought CenterParcs and Gran Dorado in the Netherlands.