Home Invest Belgium, Belfius Insurance and the infrastructure investors TINC and DG Infra Yield have signed an agreement to acquire 51.43% of the shares of Sunparks De Haan NV. These shares are distributed 50%-25%-12.5%-12.5% between the four companies.
Sunparks De Haan NV is the owner of the touristic leisure facility located in De Haan, western Belgium, near the seaside. The leisure complex is operated for a fixed initial period of 15 years by Sunparks Leisure NV (part of the holiday group Pierre & Vacances) based on an index-linked ‘triple net’ agreement. It will be fully renovated and upgraded to a Center Parcs village.
The transaction value is in line with the fair value as determined by CBRE and amounts to ±EUR75 million (US$84.4 million), which will be partly financed by the shareholders and the remaining balance by bank debt.
The remaining shares of the company are owned by a French equity fund, managed by Atream, a French real estate asset and fund manager.