Spain: Piolin BidCo Launches 630 Million Euro Takeover Bid for Parques Reunidos

Investment vehicle Piolin BidCo, of which Sweden’s EQT investment company holds 50.01 percent, today launched a takeover bid for Madrid-based Parques Reunidos operating group to acquire 55.79 percent of company’s shares (for 14 Euros per share). The remaining 44 percent of the Parques Reunidos shares are already in the hands of the bidders that control the investment vehicle, which – beside majority owner EQT – are Miles Capital (Groupe Bruxelles Lambert) and Alba Europe (Corporación Financiera Alba).

The takeover bid leverages Parques Reunidos’ total company value to around 1.13 billion Euros, the company’s share price today jumped by 29 percent after the offer in early trade. (eap)