Mubadala Capital to Buy Pierre et Vacances in €1 Billion All-Cash Tender Offer

Mubadala Capital has signed an agreement to acquire French leisure and hospitality group Pierre et Vacances in an all-cash tender offer that values the company at about €1 billion. The deal, which the company’s board unanimously welcomed, would give the Abu Dhabi-linked investor control of the Pierre & Vacances-Center Parcs group and could eventually lead to a delisting from the Paris market. The offer is priced at €1.90 per share, with a possible additional €0.10 per share if Mubadala succeeds in squeezing out remaining shareholders and removing the company from the exchange. The transaction still depends on regulatory approvals and the formal launch of the offer, expected in 2027.