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Piolin BidCo launches takeover bid for Spain's Parques Reunidos


Reuters


April 26 (Reuters) - Investment vehicle Piolin BidCo said on Friday it has launched a takeover bid for Spain's Parques Reunidos for 14 euros($15.59) per share, including a premium of 29 percent, valuing the company at around 1.13 billion euros.

The takeover offer is for 55.79 percent of the Spanish amusement park operator's shares, excluding the 44 percent already in the hands of the bidders that control the investment vehicle.

Piolin (the Spanish name for Warner Bros Tweety Pie animation) Bidco is 50.01 percent owned by the investment company EQT, 23.96 percent owned by Miles Capital (Groupe Bruxelles Lambert) and 26.03 percent owned by Alba Europe (Corporacion Financiera Alba ).

Parques Reunidos' share price jumped as much as 29 percent after the offer in early trade, the highest in 10 months.

($1 = 0.8978 euros)






This article appears in: Politics , World Markets , US Markets , Stocks
Referenced Symbols: ALB ,



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