Blackstone nears $1.1B sale of European resorts - Bloomberg

|About: The Blackstone Group Inc. (BX)|By:, SA News Editor

Blackstone (BX +1.4%) is in exclusive talks to sell a portfolio of Center Parcs Europe holiday resorts to German real estate company Aroundtown for EUR 1B ($1.1B), Bloomberg reports, citing people familiar with the matter.

Blackstone purchased the resorts in Belgium, the Netherlands, and Germany for about EUR 630M in 2006.

It had previously owned Center Parcs U.K., a separate company, which it has since sold to Brookfield Asset Management.

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