Investindustrial sells 49.9% PortAventura stake to KKR

Investindustrial retains a 50.1% stake in the company.

Previous funding
In 2009, Investindustrial acquired a 50% stake in the firm from Criteria Caixa. The deal saw PortAventura split into two separate companies. Investindustrial bought a 50% stake in one of the businesses, comprising the Caribe aquatic park, the management of four hotels including Hotel PortAventura, Caribe Resort, Gold River, El Paso and a congress centre.

The second company, wholly owned by Criteria, included the remaining commercial and real estate assets, three golf courses and the Beach Club.

In November 2012, Investindutrial bought the remaining 50% stake in the firm. The buyer was widely reported to have paid around €120m for the shares, giving the firm an enterprise value of €439m.

Company
Founded in 1995 and based near Barcelona, PortAventura is an amusement park and tourist resort. The park has 39 rides in six themed areas, more than 100 shows each day, 70 restaurants and food outlets, and 44 shops. The four 4-star hotels at PortAventura have a combined capacity of more than 4,000 rooms.

The company reported EBITDA of €59m in 2011.

People
Andrea Bonomi is founder and senior principal at Investindustrial.  

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• Topics
• Southern Europe
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