Pierre & Vacances-Center Parcs completes the acquisition of La France du Nord au Sud, accelerating the development of its Maeva.com booking site
Paris, May 23, 2016 – Baker & McKenzie has advised Pierre & Vacances-Center Parcs, parent company of Maeva.com, on tax aspects in the context of the acquisition of La France du Nord au Sud.
This acquisition will allow Maeva.com to extend its tourism product offering in France and in Spain and boost its ramp-up to become a leading player on the B to C and C to C markets for holiday rentals. It will now offer 25 000 properties, with the objective of reaching 50 000 property rentals by 2020.
Pierre & Vacances-Center Parcs, created in 1967, is the European leader in proximity tourism. With its additional brands– Pierre & Vacances, Maeva, Center Parcs, Sunparks and the Aparthotels Adagio – the group operates a tourist portfolio of close to 50 000 apartments and houses in Europe, which cater for 7.5 million customers per year.
Maeva.com is a platform which specializes in holiday rentals and which offers Pierre & Vacances properties as well as property rentals proposed by other partners. It provides its customers with a totally integrated offer ranging from the management of apartments and houses to their optimized marketing and on-site operation.
The La France du Nord au Sud group, founded in 2005, offers internet users over 22 000 tourist rentals spread over more than 8 000 destinations.
The Baker & McKenzie tax team was made up of Véronique Millischer, Partner, and Thierry Vialaneix, Senior Counsel. PwC carried out the tax and financial due diligence. The legal aspects were handled internally at Pierre & Vacances-Center Parcs.
The seller was advised on tax aspects by Fidal.