ADGM-headquartered Mubdala Capital says it is investing to support Pierre et Vacances' next phase of growth. Victor Besa / The NationalInfoAbu Dhabi company offers to acquire outstanding shares in all-cash offer
Mubadala Capital has signed an agreement to acquire Pierre et Vacances through an all-cash voluntary tender offer.
Existing shareholders representing 80.13 per cent of the French company's outstanding share capital have committed to the offer.
The tender offer is priced at €1.90 per ordinary share, with a potential €0.10 top-up if a full squeeze-out and delisting is achieved.
Pierre et Vacances operates more than 45,000 apartments, houses and villas across 330 destinations under four brands throughout Europe.
