|Center Parcs Group
||EPS - Basic
||Market Cap (m)
|Household Goods & Home Construction
Center Parcs Share Discussion Threads
Showing 1201 to 1223 of 1225 messages
|Just come back from a week in CP Elevedon and was shocked at the price increases and poor food / service. It has always been that way but people keep going back because the kids love it etc. However the new owners have done nothing to address and are obviously cutting costs further. The staff are full of unhappy youngsters who wished they had done better at school and the villa's are shabby dark run down homes that do not make you feel welcome.
Not going back.
But hey who cares here anymore anyway !|
|there goes the hope of a white night!|
|Center Parcs Shareholders Agree Forest Bidco's Offer
(18 April 2006 14:19)
Forest Bidco's acquisition of Center Parcs has been agreed by the leisure group's shareholders.
At the court meeting and extraordinary general meeting, held on 18 April, more than 75% of shareholders votes were needed in favour of the buyout.
Forest Bidco, formed under the direction of The Blackstone Group, will pay 80p in cash per Center Parc share.
The court hearing is scheduled for 10 May with the de-listing of Center Parcs shares expected on 15 May. The scheme will be effective as of 12 May.
|Anybody know when this is all going to go through|
|im holding in out just in case there is a rival bid or if enough of the current shareholders reject the terms (the agreed amount wasnt that high)
all imo dyor,|
|Anybody got a clue when this cash is going to be paid or how long a counter bidder has got to come out of the woodwork.
Wondering whether to sell now and take the money?
|Well done Mr Dalby - very good to get 23.5% , i think you might need a little more than that and £1 would get my vote if you are interested in big shareholders (i have a 40inch waist)|
|from the times..
Blackstone makes play for Center Parcs UK
By Dominic Walsh
BLACKSTONE, the American investment firm, yesterday announced the acquisition of Center Parcs UK, the quoted holiday village operator, in a deal worth £265 million.
The US firm, which is offering 80p a share, is expected to follow up the purchase by seeking to buy the four property assets owned by Royal Bank of Scotland and Hugh Osmond's Sun Capital, and leased to Center Parcs UK.
Analysts believe that Blackstone has held preliminary discussions with RBS and Sun Capital over a deal worth about £800 million. However, one industry source said the American firm may face competition to buy the assets from other property investors.
Some analysts suggested it could also face competition for Center Parcs UK. Although its bid has been recommended by the board, Center Parcs share price closed up 12p at 81p - above the 80p offer price - amid hopes of a counterbid. The offer values the group at £205.4million, or £265 million including debt.
The obvious potential counterbidder is Pierre & Vacances (P&V), the French company that owns the continental Center Parcs business. P&V has previously expressed an interest in reuniting the brand.
Martin Dalby, chief executive of Center Parcs UK, said the company had not sought out other bidders, but added: "Our focus was getting the best price on the table from Blackstone. If there is anybody else out there who wants to come up with a higher offer, they are now able to do so."
However, some commentators believe that if Blackstone's bid succeeds it could itself launch an attempt to take over P&V. Its deep pockets and recent track record suggests it could use Center Parcs UK as a vehicle to consolidate the European holiday park market.
The bid from Blackstone is below the 100p at which Center Parcs UK was floated in December 2003 but is a 26 per cent premium to the average price over the past six months. Since flotation it has suffered a catalogue of woes, including an outbreak of gastroenteritis at its Longleat Forest village.
Mr Dalby said the board, advised by UBS and KPMG Corporate Finance, had recommended the bid because of the challenges facing the company. In particular, it is seeking planning permission for a fifth village near Woburn, Bedfordshire, for which it would need funding of at least £130 million.
He added that most of the group's biggest shareholders had bought their shares well below the initial public offering price. He said the offer had already garnered acceptances from investors speaking for 23.5 per cent of the shares.|
|it's not much above though - to be fair - the final answer is somewhere between 80p and £1 I reckon.
I've got two of these now - CPK, and NCH - both have been flogged on the cheap I reckon - with CPK the chairman and chief exec get £1.5m each for a pretty easy ride....no desparate need for them to chase another offer.
We will see though - I'll hold for a while|
|id be surprised if a counter bid that it would be at 90p. id expect more.
i will be interested to know the terms the incumbent management have agreed if any...and im not convinced that the current shareholders will agree to this deal. the fact the share price closed above the offer, is a good indicator that there might be more in this story. i was quite irritated this morning having been a long term investor. I am a little more hopeful now. the earnings multiple paid shows the deal wasnt a great one from my perspective.
all imo dyor.|
|You'll get more when the counter bid at 90p comes in!!!|
|Not sure but note the highlighted sentance, maybe this does mean that they will honour the remainder of your wifes share scheme plans, or I am just reading it wrong...
The terms of the Proposals enable all Center Parcs Shareholders to receive 80 pence in cash for each Scheme Share, valuing the entire issued AND TO BE ISSUED SHARE CAPITAL of Center Parcs at approximately
|hope this private equity deal fails then, typical private investor shafted knew it was to good to last
thanks for your reply|
|Closed out at 81p a £200 a point long position opened at various prices, average about 57p, tax-free profit of just under £5k, thank you very much ladies and gentlemen on this board, it's been a pleasure. Honestly.|
|I have been in a similar situation.
The company paid did pay out but only up to the amount saved.
For example you had an option price of 61p 12 months ago and bought £100 a month you got £100 *12 months = £1200 then £1200/ .61p = 1967 shares that you can sell for 80p a share 80p * 1967 shares = £1573.60
Not sure if this is "The rules" but it's what happened at my company.|
|My wife is in a share saving scheme with the option after 3 years of buying the shares at 61p if cpk is taken over will the new company have to honour the scheme
Has anyone else been in this situation. tia|
|im hoping/holding out for a 95p plus deal..
all imo dyor.|
|They only have 25% irrevocables....hardly a "done deal"!!|
|There are countless private equity firms who have both the cash and nouce to do it...£200m is a drop in the ocean re current size of PE deals. I repeat...why is the share price trading above the agreed takeover price??|
|A counter bid from whom ?, Most people have tried and failed with this one., hence the reason for little resistance in the proposed takeover. I believe that Blackstone are the 2nd biggest venture capitalist, and ownn Universal theme park in the States. CP needs a large injection of funds to take it forward and I cannot see anyone else have the money and nouce to do it.
I sold out this morning having bought at 65p (My trigger point from ages ago (Check my earlier postings) and will probably buyt back in in 3-5 years when it gets spun off again|
|The reason you wait is for the counter-bid!! why do you think the shares are trading above the value of the bid??|
|just sold out, why wait for the 80p, when we could take it now. Anyway a closed chapter. Although profit - disappointed at only 80p, thought it was a good bussiness with good yield and the Woburn, Bedfordshire, site has received positve comments from local council people so that was looking good too.
|Don't rule out a counter bid!!|