LONDON (AFX) - British investment firm Candover PLC is closing in on a 900 mln eur deal to acquire Parques Reunidos, a leading operator of theme parks in Europe, the Sunday Times has reported.
The newspaper said Candover is believed to have edged ahead of rival, private equity firm Apax Partners, in the race for Parques Reunidos, which runs 22 theme parks in six countries.
It said Candover is believed to be bidding with a trade partner in order to strengthen its position, with suggestions that it is working with Bourne Leisure, a privately-owned holiday firm in which it has previously invested.
Parques Reunidos's main shareholder, Advent International, hired UBS in October last year to carry out a strategic review. newsdesk@afxnews.com sjm/wj COPYRIGHT Copyright AFX News Limited 2006. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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