Osmond seals Center Parcs deal
Hugh Osmond has acquired the four Center Parcs UK holiday villages in a sale and leaseback deal worth £465m.
Deutsche Bank Capital Partners (DBCP), which owns Center Parcs UK, has sold the sites to entrepreneur Osmond's property investment company, Sun Capital, which will rent them back on leases of between 15 and 18 years.
The deal was financed by Credit Suisse First Boston.
This is the latest development for Center Parcs UK, which DBCP bought from Scottish and Newcastle in March 2001 for £310m. It then acquired Oasis - now Oasis Whinfell Forest - from Bourne Leisure in September 2001 for £140m.
Osmond is also currently in the process of making a bid for Pizza Express, the restaurant chain he used to head and which he floated in 1993. Sun Capital has made an offer in the range of 330-350p per share.
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