The Future of PortAventura

[UER]

I wonder, should Universal buy the park, if it could be fixed to actually be a properly themed coaster or if the type of coaster they chose would limit them.

The coaster itself is a good ride, problem right now is a sub-par theming

 

[PerceptiveCoot]

At the very least it seems like they're doing something with Harry Potter. You don't make two explicit references to it unless you're working on it or fishing to work on it.

 

[pablo_es]

This is from my first post in April where I summarized all the rumors.

Right now the owners of PortAventura are two investment funds, Investindustrial (Italian - 50.1% of the shares) and KKR (American - 49.9% of the shares). Investindustrial manage the park since 2013. These companies seek to increase the value of the companies they buy to sell them at a higher price according to package investment cycles. PortAventura's investment package is over and in 2024 they have to increase capital. They are two companies that by their nature are looking to sell the park, they are not theme park managers, and the latest movements suggest that they are in full search of a buyer.

He commented that the 2023 season would be one of transition and improvement and tuning thing.

Information that was known since the end of 2022. He said 2023 would be a transition season to the change and probe new things. Prepare the park for the sale with everything that the mysterious interested company was asking for. Then, in September, we had the news that Investindustrial and KKR are selling the park. It all comes from the same source that knew since last year that the sale process was already underway.

Boulva has already been spotted at the park. He is the current COO of Disneyland Paris. What company has the drawing power to move a top Disney employeer to their park? Knowing also that PortAventura is going to change owners. The park already has an owner in the shadows making these hires. Chief of HHRR has changed too. And the Disneyland Paris insider says she heard top management moving to Universal Europe...

There is no signed paper but we must follow the clues and above all, the reliability of the rumors that have all been true and happened.

 

[Alicia]

It is known in the park that Universal has already purchased the park.

Maybe I just don’t know how businesses work, but I feel that you cannot secretly acquire another company without informing Comcast investors and shareholders. A sale must be approved by some parties, no?

Even if there is intent to buy, I feel it’s dangerous to claim a sale has been made before informing investors. But again, I’m no expert.

Then I'll still be here--not believing it until I see actual, concrete proof.

Same.

 

[pablo_es]

Maybe I just don’t know how businesses work, but I feel that you cannot secretly acquire another company without informing Comcast investors and shareholders. A sale must be approved by some parties, no?

Even if there is intent to buy, I feel it’s dangerous to claim a sale has been made before informing investors. But again, I’m no expert.

I did not mean literally purchased, there is intent to buy and an agreement.

When every information that the same source leaked since 2022 has happened, perhaps that source has accurate information. Obviously nothing is confirmed and everyone can believe what he/she considers. In time, we will find out for sure.

 

[UER]

Maybe I just don’t know how businesses work, but I feel that you cannot secretly acquire another company without informing Comcast investors and shareholders. A sale must be approved by some parties, no?

Even if there is intent to buy, I feel it’s dangerous to claim a sale has been made before informing investors. But again, I’m no expert.

Same.

I have no clue about how those things work, but from what I gather after a quick google search:

"Shareholder Approval for Buying a Company

If you are the acquiring company, determining whether shareholder approval is necessary to purchase the business will also revolve around the governing documents. With certain entities that are structured specifically for acquiring companies, the code of regulations or operating agreement may stipulate that just the approval of the board of directors or even just the CEO is required to authorize the purchase."

So it may or may not be needed to inform the shareholder before the purchase, and it could be the case that they only need to be informed in the next earnings call.

It can also be the case that not the whole company is bought, and just the assets thats PortAventura currently owns, or a 51% of current shares, who knows.

Not saying that the deal is already done, but it might without any of us knowing

 

[pablo_es]

New article this morning from one of the leading financial digital newspapers in Spain. One month after the news of the sale from another economic digital newspaper. It confirms JP Morgan as the manager of the sale and Universal as the main candidate. It gives a new name, the owners of Caesars casinos.



https://www.eleconomista.es/capital...n-a-jp-morgan-para-vender-port-aventura-.html

It also confirms that the sale is "mainly aimed at industrial and entertainment groups, rather than private equity funds" .

My theory is that this is information leaked from the park to prepare the ground and communicate the news of the sale in November or December.

 

[UER]

New article this morning from one of the leading financial digital newspapers in Spain. One month after the news of the sale from another economic digital newspaper. It confirms JP Morgan as the manager of the sale and Universal as the main candidate. It gives a new name, the owners of Caesars casinos.

View attachment 19908

https://www.eleconomista.es/capital...n-a-jp-morgan-para-vender-port-aventura-.html

It also confirms that the sale is "mainly aimed at industrial and entertainment groups, rather than private equity funds" .

My theory is that this is information leaked from the park to prepare the ground and communicate the news of the sale in November or December.

If the rumors of the new COO coming from DLP are true, they say he will start in november working in PortAventura, at that point it will be impossible to keep the secret

 

[PerceptiveCoot]

I still don't understand, has a sale already occurred or are they still shopping themselves out?

 

[Alicia]

I still don't understand, has a sale already occurred or are they still shopping themselves out?

A sale has not happened.

 

[pablo_es]

I still don't understand, has a sale already occurred or are they still shopping themselves out?

The sale has not yet happened but inside sources say they have reached an agreement after a year of negotiation. The Spanish financial press also points to Universal as a leading candidate to buy the resort. Even this week several people from Universal have allegedly been seen testing attractions at the park.

As a curious fact, on November 14 the park will be closed for no apparent reason. The workers have not been called to work and it does not seem to be a private event of any company. No one knows the reason for the closure.


IAAPA Expo starts on November 14.

 

[Tomfoolery]

inside sources say they have reached an agreement after a year of negotiation

This is not true, none of it is,,

 

[UniversalRBLX]

Ah yes, Comcast investors will be happy they bought something for a billion dollars without approval lol

Not saying it's not happening, but unless they're doing some backroom deals with holding companies, I can't imagine it will remain a secret for long. Eventually, it'll have to be made public

Europe is the obvious next destination for Universal, but I still have my concerns over just slapping the Universal name on Port Aventura again.

 

[Alicia]

Europe is the obvious next destination for Universal, but I still have my concerns over just slapping the Universal name on Port Aventura again.

This is where I’m at. With the Frisco and Vegas small park concepts announced, it’s becoming clear that the Parks division has some new ideas for branching out into new markets, and they don’t need to buy out an existing park to do so.

 

[AlexanderMBush]

I’d honestly argue a small scale, Universal Kids Frisco like, park would be much more beneficial for the UK market than a full on Universal park or a Horror Unleashed. Something that doesn’t diminish the tourist desire to go to UOR.

 

[pablo_es]

I understand that you may have doubts, I am not 100% convinced either, but I do not understand the 0 reliability you are giving to something published by the spanish economic media. Is it only reliable if the New York Times or an american source says so?

I have exposed you the rumors that are commented internally, info provided from the workers and regular Port Aventura insiders. You seem sure about this not happening. I will stop bringing you the local information because I feel it's not appreciate at all.

 

[Mad Dog]

and....I'm always looking at the present interest rate environment when it comes to acquisitions. The prime rate is over 5 1/2% and corporate borrowing rates often end up double or triple the prime, so it's pretty expensive for acquisitions in this environment....unless the price is so low you can't refuse.

 

[Dan Cooper]

The sale has already happened, and the announcement has already been scheduled. You won't have to wait too long.

People have already been hired to run the place. Among them are both Universal and Disney staff. The new COO of the resort comes directly from Disneyland Paris.

Spain has proven to be a touristic hotspot, passing France and becoming the most visited destination in the world. PortAventura is the second most visited place of the country (only after Sagrada Familia). It would be stupid for them not to take this chance.
Cheers xoxo

 

[Alicia]

I understand that you may have doubts, I am not 100% convinced either, but I do not understand the 0 reliability you are giving to something published by the spanish economic media. Is it only reliable if the New York Times or an american source says so?

I have exposed you the rumors that are commented internally, info provided from the workers and regular Port Aventura insiders. You seem sure about this not happening. I will stop bringing you the local information because I feel it's not appreciate at all.

It’s not that I have my doubts, I have my sources.

I was not surprised by the Vegas and Texas announcements. But I would be by this, because as far as I’ve heard, Universal isn’t buying it.

Things could always change, especially as the park is shopping around for a buyer now, but Comcast hasn’t bought it yet, and I haven’t heard they will.

They may be the obvious front runner to buy it according to the press, but so was Merlin to purchase SeaWorld parks a few years ago, and that didn’t happen either. Just because the press, U.S. American or otherwise, says a company may be the clear choice to buy a park, doesn’t mean they will.

The press has also said Apple will buy Disney. Now they say Universal will buy Warner Bros. And so on. They say lots of things to get clicks. And sometimes they’re right, eventually. But not all times.

 

[Dan Cooper]

It’s not that I have my doubts, I have my sources.

I was not surprised by the Vegas and Texas announcements. But I would be by this, because as far as I’ve heard, Universal isn’t buying it.

Things could always change, especially as the park is shopping around for a buyer now, but Comcast hasn’t bought it yet, and I haven’t heard they will.

They may be the obvious front runner to buy it according to the press, but so was Merlin to purchase SeaWorld parks a few years ago, and that didn’t happen either. Just because the press, U.S. American or otherwise, says a company may be the clear choice to buy a park, doesn’t mean they will.

The press has also said Apple will buy Disney. Now they say Universal will buy Warner Bros. And so on. They say lots of things to get clicks. And sometimes they’re right, eventually. But not all times.

Check your sources again, it is happening.
We have the information, we have the proof... It's not our fault y'all can't even pay attention to something that's outside the USA.

The announcement will be here well before Mariah Carey's yearly defrosting. Mark my words.

PS: The resort is being purchased by Universal & some good friends of theirs. I don't know where the Merlin thing came from and at this point I'm too tired to even ask.