Brookfield Asset Management's (BAM) majority-owned Center Parcs has attracted interest from several UK public sector pension schemes, as Brookfield finalizes a recapitalization effort of the holiday parks firm, Sky News reported Saturday, citing city sources and insiders.
Center Parcs is likely to be valued at about 4.5 billion British pounds ($6.08 billion) as part of the process, which is expected to close in Q1, according to the report.
Potential backers include the Greater Manchester Pension Fund, the London-based Local Pension Partnership, the Lothian Pension Scheme, and the Universities Superannuation Scheme, the news outlet reported. The pension schemes have reportedly been in negotiations about acquiring 15% to 20% of Center Parcs.
Brookfield intends to keep a majority stake in the business after the refinancing, while China Investment Corp. may also increase its existing investment, Sky News reported.
Brookfield and Center Parcs didn't immediately respond to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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