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EQT Plans €1.7 Billion Sale of Parques Reunidos Stake

EQT Plans €1.7 Billion Sale of Parques Reunidos Stake.

Swedish private equity group EQT is preparing to sell its controlling stake in Spanish theme park operator Parques Reunidos, with the potential transaction valuing the holding at around €1.7 billion ($1.9 billion), according to market sources cited by Spanish newspaper Expansion on Friday.

EQT has reportedly appointed JPMorgan to oversee the sale process as the investment firm explores an exit from one of Europe’s major leisure and entertainment operators. The planned transaction could attract interest from other private equity groups and institutional investors seeking exposure to the European tourism and leisure industry.

Parques Reunidos operates dozens of theme parks, water parks, zoos and other leisure attractions across Europe. Its portfolio includes Parque Warner Madrid, one of Spain’s best-known amusement parks and a major attraction for domestic and international visitors.

EQT currently controls 51% of Parques Reunidos, giving the Swedish private equity firm a majority position in the business. Spanish investment company Corporacion Financiera Alba owns another 25%, while Belgian investment group Groep Brussel Lambert holds the remaining 23%.

The reported €1.7 billion valuation relates to EQT’s controlling stake, according to the market sources cited by Expansion. Details regarding the timing of the sale process and potential bidders were not disclosed.

A sale would represent a significant transaction in Europe’s leisure sector and mark a major portfolio move for EQT, one of the continent’s largest private equity firms. JPMorgan’s appointment indicates that preparations for a potential transaction are progressing, although there is no indication yet that a final agreement has been reached.

Investor attention is likely to focus on the valuation of Parques Reunidos and the level of buyer interest as EQT moves ahead with the process. The theme park operator’s broad European footprint and portfolio of established attractions could make the stake a notable target in the private equity and leisure markets.

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