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Onex acquires Parkdean Resorts for £1.35 bln

Reuters - UK Focus

Dec (Shanghai: 600875.SS - news) 16 (Reuters) - Private equity (IOB: 0QLS.IL - news) firm Onex Corp said on Friday it has agreed to acquire caravan holiday parks operator Parkdean Resorts for £1.35 billion (C$2.25 billion).

Parkdean Resorts, headquartered in Hemel Hempstead and Newcastle, operates 73 caravan holiday parks across England, Scotland and Wales, selling more than 500,000 holidays and short breaks a year.

The transaction is expected to close in the first quarter of 2017, subject to customary conditions and regulatory approvals. (1 Canadian dollar = 0.6003 pound) (Reporting by Diptendu Lahiri in Bengaluru)