Center Parcs stay tight-lipped over potential F1 takeover

editorial image

Bosses at Center Parcs are remaining tight-lipped over a potential multi-billion-pound deal to sell the company to the owners of Formula One.

National reports suggest the holiday village firm’s owners, Blackstone, is weighing up a joint bid from CVC, the biggest shareholders in F1, and the Government Investment Corporation of Singapore.

It is estimated to be worth more than £2.5 billion.

But a spokesman at Center Parcs in Sherwood Forest refused to speculate on the move.

But in a statement to bondholders, Center Parcs confirmed that it was “considering its strategic and financing options, which may include private or public equity or debt capital markets”.

They added: “However, no decision has been taken as to whether to proceed with any such transaction and, if Center Parcs does decide to proceed with a transaction, an announcement will be made at the appropriate time.”

Blackstone has owned the leisure company since 2006, and last year rejected a £2 billion joint bid from BC Partners and the Canada Pension Plan.

Started in Europe in the 1960s, there are now 25 Center Parcs resorts, including five built in the UK.

This includes Suffolk, Wiltshire, Cumbria, Bedfordshire and the first to be built in England in 1987, Sherwood Forest.

Each offer a series of indoor and outdoor activities in woodland settings, such as cycling, abseiling, go-karting, canoeing and swimming.

The venues have proved popular over the years and often boasts a 99 per cent occupancy of its one to four bedroom holiday lodges.