Britain's biggest private pension fund is on the brink of a £300m deal that will see it become a key financial stakeholder in Butlin’s, the holiday camp operator
Britain's biggest private pension fund is on the brink of a £300m deal that will see it become a key financial stakeholder in Butlin’s, the holiday camp operator. could sign a ground rent agreement with Butlin's parent, Bourne Leisure Group, as soon as this week.
It will come as Bourne Leisure and its owner, the private equity giant Blackstone, continue to hold talks with at least one party about the sale of Butlin's operating assets.That deal has, however, begun to look less certain as auctions of businesses such as Parkdean Resorts and Boots have been abandoned amid growing turmoil in financing markets.USS's ground rent deal with Butlin's is among the most prominent deals struck by the university lecturers' retirement scheme for years.
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