Paris, December 20, 2021 – Atream, an independent asset management firm specialized in tourism real estate and private equity, has confirmed it is in exclusive negotiations alongside Fidera Limited and Alcentra Limited as part of the backing process designed to bolster Pierre & Vacances – Center Parcs.
Following the submission of a firm offer on November 8, 2021, Atream, alongside Fidera Limited and Alcentra Limited, concluded an exclusive agreement with Pierre & Vacances – Center Parcs valid through January 31, 2022 to pursue negotiations with a view to the consortium backing the French tourism giant.
The proposal, which includes the recapitalization of Pierre & Vacances – Center Parcs and debt reduction, has the full support of Pierre & Vacances Center – Parcs executives, and the group’s major creditors have consented to an agreement in principle. If the proposal is finalized, Atream will also form a dedicated real estate company with other corporate partners to acquire and manage future Pierre & Vacances – Center Parcs locations.
Alongside financial investors Alcentra and Fidera, Atream brings its industry expertise and experience to the table—a major asset for the roll-out of the strategic reinvention of Pierre & Vacances – Center Parcs.
This acquisition proposal is fully in line with Atream’s ethical strategy of investing in private equity to support recovery and boost competitiveness of tourism in France and Europe. It is proof of Atream’s conviction that tourism based on a solid foundation has the ability to return to strong growth and reinvent itself to meet changing consumer demands.
Atream, which has been an expert in investing in the tourism Industry for over 13 years, already owns four Center Parcs in Europe and a Pierre & Vacances vacation village in France. Perfectly in line with all regulations, Atream’s involvement in the backing process respects all conflict-of-interest rules regarding its management of these five assets for the benefit of its investors.
Founded in 2008, Atream is an independent asset management firm specialized in real estate funds (OPCI, SCPI and FIA). Thanks to a team of over 55 experts in real estate investment and private equity, Atream identifies and develops tailored solutions for institutional investors and collective investment solutions for private investors. Over the past 13 years, Atream has developed recognized expertise in tourism sector assets by supporting major operators such as Accor, Mama Shelter, Pierre & Vacances, Center Parcs and Club Med. In 2011, Atream began diversifying its offering to include investments in the service, residential and growing vineyard sectors. Atream manages nearly €4 billion in assets via 300 sites located in four European countries (France, Germany, the Netherlands and Belgium). Atream is accredited by the AMF and AIFM for real estate portfolio management and capital investment and is a member of ASPIM (French Association of Real Estate Investors). Website: http://www.atream.com/
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