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NMa Approves the Merger of Gran Dorado and Center Parcs after Amendments

The Dutch Competition Authority (NMa) today approved the merging through a joint venture of the activities of Center Parcs and Gran Dorado by Pierre & Vacances S.A. and Carp Ltd., after the parties involved had amended their original plans. NMa was able to give its approval after the parties had informed NMa that they would sell the activities of 33 of Gran Dorado's holiday parks (acquired through the takeover of Creatief Vakantieverblijven B.V. in 1996) to an independent third party and that the sale had already commenced.

Center Parcs and Gran Dorado are active in the area of operating and managing holiday parks in the Netherlands, Belgium, France and Germany. Center Parcs' holiday parks in the United Kingdom are not part of this transaction. As a result of the merger the parties would acquire a strong position on the holiday park market with a secure level of supply. As a result of the sale of the above activities, this competition problem has been solved and NMa can give its approval to the concentration.