Mubadala Capital has reached a significant milestone in its bid to acquire the French hospitality giant, Pierre & Vacances, after securing commitments from shareholders holding over 80% of the company’s capital. The Abu Dhabi-based firm has finalized a tender offer agreement that mirrors the financial terms initially proposed back in June. This all-cash offer has received full, unanimous backing from the Pierre & Vacances board, which views the deal as a strategic move that aligns with the best interests of its employees, shareholders, and broader stakeholders.

The transaction, which is currently slated for completion in the first half of 2027, values ordinary shares at €1.90 each. By folding the storied tourism operator—known for brands like Center Parcs and Adagio—into its portfolio, Mubadala Capital aims to leverage its previous experience in the leisure sector to drive site upgrades and long-term expansion. For Pierre & Vacances, this partnership represents a pivotal moment in its ongoing transformation, providing the necessary capital to boost operational capacity and support the next chapter of growth for a group that currently manages over 45,000 properties across Europe.