• Transaction / Assets
  • Seller
  • Buyer
  • € MM

Bonomi Sells 49.9% of Port Aventura to KKR

Investindustrial, the group of the Italian family Bonomi, has sold 49.9% of Port Aventura to the venture-capital company KKR. Last year, the Italian group paid 105 million Euros to CaixaBank for its share. According to sources close to the transaction, now it has sold for more than mentioned amount. Bonomi will hold the remaining 50.1% of the capital.

Port Aventura, situated in Vila Seca and Salou (Tarragona), earned 180 millions last year and received 3.8 million visitors. Apart from being an amusement park, the entertainment complex is supported by four hotels (offering 2.000 rooms in total), a convention center and three golfcourses.

The entrance of the venture-capital company followed the announcement of the construction of six  hotels in BCN World, a complex adjoining Port Aventura, even though not all of them will be raised in the first stage. Thus, the new partner will strengthen the shareholding before an investment that could oscilate around 140 and 170 million Euros.

(…) One of the company´s goals is to attract more foreign visitors, both to the theme park and its area of events and conventions. Presently, 45% of the visitors come from outside of Spain and the company aspires to 70%. This way the company could decrease its dependency on the Spanish market and deseasonalise the activity of the park.

According to Port Aventura, “Investindustrial has spotted potential alliances with the leader brands in sector of entertainment on international level that will implement in the forthcoming years with help of KKR, which will contribute its global network in tourism and entertainment sector.” Among other companies in Spain, KKR possesses 18.2% of Saba.

The transaction has been conducted with funding of CaixaBank and with advisory of JP Morgan, AZ Capital, KPMG, Uría Menéndez and Lazard.

Since Investindustrial incorporated into the shareholding of Port Aventura in 2009, there have been carried out investments of 100 million Euros. (…).

Next year, Port Aventura will hold daily shows of Cirque du Soleil during two months, which might become a permament attraction in the future.

The BCN World project is awaiting the Catalan Parlament´s approvement on tax reduction supposed to pass down from 20-50% to 10%.

Source: Expansión