CVC mulling offer for Centre Parcs - report

CVC Capital Partners is mulling a potential offer for UK holiday resort group Center Parcs, it was reported on Monday.

According to Sky News, the private equity firm’s long-term Strategic Opportunities fund is expected to table an indicative offer ahead of a bid deadline later this month. It is not known how much it is likely to bid, however.

CVC is thought to be one of a number of suitors interested in the business, which was put up for sale last month by its Canadian owner, private equity group Brookfield. Sky noted that France's Antin Infrastructure Partners is thought to be one of a number of infrastructure funds considering whether to make a bid or not.

Brookfield is understood to be looking for between £4bn and £5bn for the business, which it acquired in 2015 for £2.4bn from Blackstone.

Since then it has improved facilities, including 250 new lodges, and spent £100m upgrading IT and booking systems. According to Brookfield’s website, around 2m guests stay in Center Parcs a year, with an occupancy rate of around 98%.

Neither CVC nor Brookfield have commented on the report.