Equity firms Investindustrial and Kohlberg Kravis Roberts & Co. are reportedly looking to sell PortAventura, a Spanish theme park once owned and operated by Universal.
PortAventura on the Market
According to CincoDÃas, Investindustrial and KKR are looking to sell their shares of PortAventura World for €1 billion. Investindustrial purchased 50% of the entertainment resort in 2010, partnering with CaixaBank. They later acquired CaixaBank’s shares, and in 2013, KKR purchased 49.9%. JP Morgan Chase will facilitate the sale.
Earlier this year, we reported on the rumor that Universal Parks & Resorts, now Universal Destinations & Experiences, was looking to buy back PortAventura. It seems that window is now open and Universal could take over PortAventura soon.
PortAventura History
PortAventura was developed by Anheuser-Busch and Grand Tibidabo, although Grand Tibibado backed out during the construction of the park. Other investors, including The Tussauds Group, stepped in, and it opened in 1995 as Port Aventura. Tussauds Group held a majority share of the park until 1998 when they sold most of their shares to Universal. The park was then renamed Universal’s Port Aventura and was technically the company’s first European park.
Universal expanded the area into a resort, then called Universal Mediterranea, with hotels and a water park. In 2004, NBCUniversal sold their shares to CaixaBank. It was renamed to PortAventura with no space and the resort as a whole was renamed PortAventura World.
PortAventura currently has six themed lands. Five are inspired by real places: Mediterrà nia, Far West, México, China, and Polynesia. The sixth is SésamoAventura, featuring Sesame Street characters.
The water park is PortAventura Caribe Aquatic Park. In 2017, Ferrari Land opened as PortAventura World’s second theme park. There are also now six hotels, with Mediterranean, Caribbean, Mexico, Western, and Ferrari themes.
Universal currently operates five theme park resorts: Universal Studios Hollywood, Universal Orlando Resort, Universal Studios Japan, Universal Studios Singapore, and Universal Beijing Resort.
For more Universal Studios news from around the world, follow Universal Parks News Today on Twitter, Facebook, and Instagram. For Disney Parks news, visit WDWNT.