KKR picks up 49.9% stake in PortAventura from Investindustrial


rollercoaster_amusement_170sqInvestindustrial has sold a 49.9 per cent stake in Spanish amusement park PortAventura to US private equity giant KKR just 12 months after gaining full control of the business.

The Italian private equity firm initially picked up a 50 per cent stake in the Spanish business in 2009, before buying the remaining 50 per cent from La Caixa for about €120m in November 2012.

Investindustrial president Andrea Bonomi told the Financial Times the deal gave the company an enterprise value of €439m.

Barcelona-based PortAventura houses 39 attractions, a water park, four hotels and a convention centre with capacity for 4,000 people.

It posted EBITDA of €59m in 2011.

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