A state-backed investment fund from Abu Dhabi, Mubadala Capital, has made a binding offer of close to one billion euros to acquire Pierre & Vacances-Center Parcs (PVCP), the parent company of the popular Center Parcs holiday park chain. PVCP initiated a review of strategic options, including a potential sale, last year. The group operates over 300 properties across Europe, including approximately thirty Center Parcs locations in five countries, with nine situated in the Netherlands. Other brands under the PVCP umbrella include the Maeva travel agency and the Adagio hotel chain. The company reported a revenue of approximately €1.95 billion last year. PVCP states that its three largest shareholders, holding nearly 60% of the shares, support the bid, with a target of securing at least 80% shareholder approval by July to finalize the acquisition.