UK holiday park operator Park Holidays is being acquired by a US-based real estate investment trust in a billion-dollar deal. Sun Communities, Inc. will pay $1.3 billion (£900 million) for the business.
Sun Communities entered into a definitive agreement with shareholders of Park Holidays receiving about $34 million in Sun Communities common stock, with the remainder paid in cash. The deal is expected to close in the first quarter of 2022.
Park Holidays operates 42 holiday parks across the UK.
