Fund manager M&G is in talks to buy the property assets of holiday business Center Parcs.
M&G is in talks with US private equity group Blackstone to take a majority stake in a new fund being set up to hold the leisure business’s £1.4bn of property.
EG revealed Blackstone’s plans to launch a sale of a circa 75% stake in the portfolio in March.
The new fund will offer investors fixed bond-like income generated from Center Parcs’ underlying cashflow. Income is expected to be index-linked and over a term of 20-25 years.
Blackstone bought the Center Parcs operating company for £205m in March 2006. Later that year, it paid Royal Bank of
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