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Center Parcs leaves London Stock Exchange as part of takeover

15 May 2006

Leisure village operator Center Parcs has today completed its planned de-listing from the London Stock Market, after its purchase by a private equity group.

Acquisitive US investment company Blackstone Group agreed an £825m deal to buy Center Parcs UK's property assets early this month.

Blackstone also paid £265m for Center Parcs UK's operating company as part of the takeover process, which is launched in March.

An extraordinary general meeting approved Blackstone's offer of 80p per share on 18 April.

The new deal for Center Parcs' assets reverses the sale-and-leaseback deal the holiday village operator conducted in 2002, before the company was floated the following year.

The leisure company is still waiting to find out if its bid to build a fifth UK site in Woburn, Bedfordshire, will get the go ahead.

A report in The Times last week suggested there was growing opposition to the planned development locally.

Blackstone buys Center Parcs' property >>

Center Parcs to wait until May for planning decision >>

Center Parcs agrees to Blackstone bid >>

By Chris Druce

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