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Acquisition Sunparks De Haan closed
Download pdf 17/12/2018

Home Invest Belgium, Belfius Insurance and the infrastructure investors TINC and DG Infra Yield acquire 51.43% of the shares in Sunparks De Haan NV.

Today, Home Invest Belgium, Belfius Insurance, the listed infrastructure investor TINC and the infrastructure fund DG Infra Yield have closed, together with their French partner, the acquisition of Sunparks De Haan . The transaction, which was already announced in October 2018, consists of the acquisition of 51.43% of the shares in Sunparks De Haan NV by Home Invest Belgium, Belfius Insurance, TINC and DG Infra Yield through a newly incorporated company, of which they respectively hold 50%, 25%, 12.5% and 12.5% of the shares. The remaining shares in Sunparks De Haan NV are acquired by a French equity fund, managed by Atream, a French real estate asset and fund manager.

Sunparks De Haan NV is the owner of the touristic leisure facility with shared infrastructure located in 8420 De Haan, Wenduinesteenweg 150. This complex enjoys a unique location near the seaside. The leisure complex will be thoroughly renovated and will be operated for a fixed initial period of 15 years by Sunparks Leisure NV (part of the holiday group Pierre & Vacances) based on an index-linked ‘triple net’ agreement.

The transaction value is in line with the fair value as determined by CBRE and amounts to ± € 75 million (after renovation) for the Belgian partners, and is financed through a combination of shareholders’ equity and bank financing. The complex will be fully renovated and upgraded to a Center Parcs village with 4 birdies classification.