The Italian private equity group Investindustrial has agreed to pay around €120m to take total control of PortAventura, Europe’s third biggest theme park.
Having bought an initial 50 per cent stake three years ago, Investindustrial is set to buy the remaining half from La Caixa.
The deal will give PortAventura an overall value of €439m and adds to the Italian group’s growing list of investments in Spain.
Andrea Bonomi, chairman of Investindustrial, confirmed the deal and talked up opportunities in Spain.
“There is a tremendous opportunity to go where others fear to tread,” he said.
“From the private equity investor viewpoint, you have the opportunity to buy assets at a discount compared with what they would be worth if they were just 50m across the border in France,” added Bonomi.
