(Il Sole 24 Ore Radiocor) - Milano, 22 giu - The French tourism group Pierre et Vacances said it has received a fully financed takeover offer from Mubadala Capital, a subsidiary of the Abu Dhabi sovereign wealth fund Mubadala Investment Company.

Mubadala Capital is offering 1.90 euros per ordinary share, including the extraordinary premium distribution of 0.11 euros per share to be paid by Pierre et Vacances, and 1.79 euros per ordinary share excluding that distribution. The price will be increased by 0.10 euros per ordinary share if Mubadala Capital is able to implement a squeeze-out and delist Pierre et Vacances shares following the offer.

Shareholders owning 58.6% of the outstanding shares of Pierre et Vacances have expressed their support for the proposed transaction. Mubadala Capital's binding offer remains subject to ongoing discussions with shareholders in order to secure by July 17, undertakings to tender shares representing at least 80% of Pierre et Vacances shares.

Pierre et Vacances said its board unanimously supports the offer, which comes after the launch of a strategic review in June 2025 and after a competitive process where the company and its advisers engaged with several potential investors.

"Mubadala Capital's offer reflects its conviction in the European leisure and hospitality sector and in the long-term potential of the group's brands," said Antoun Ghanem, partner at Mubadala Capital. "Mubadala Capital intends to support the management team led by Franck Gervais and the execution of the group's strategic plan, providing long-term capital and operational partnership. This transaction follows Mubadala Capital's recent take-privates in North America and builds on.

its direct experience in European leisure."

(RADIOCOR) 22-06-26 11:00:31 (0203) 5 NNNN