Pierre et Vacances SA (ENXTPA:VAC) announced that its Board of Directors has decided to launch a review of the Pierre & Vacances-Center Parcs Group's strategic options. This decision follows the success of the "ReInvention" plan, which was implemented ahead of schedule over the last three years. The company has also just announced an adjusted EBITDA target of over ?180 million for the current financial year.
The aim of this approach is to explore the full range of opportunities in order to realise the Group's full potential, and could lead to changes in shareholder structure. With this in mind, the Company has begun work on updating its multi-year business plan and has appointed Morgan Stanley & Co International plc ("Morgan Stanley") and BNP Paribas as financial advisors to help it analyse and, where appropriate, implement its strategic options. The Company will keep the market informed of the progress of the review of strategic options.
