Key Developments: Pierre et Vacances SA (PVAC.PA)

PVAC.PA on Paris Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Pierre et Vacances to appeal against Center Parcs Roybon judgment
Thursday, 16 Jul 2015 06:30am EDT 

Pierre Et Vacances SA:Says it will appeal against the judgment of the Grenoble Administrative Court concerning the Center Parcs project in Roybon.  Full Article

Pierre et Vacances signs a non-binding MOU with HNA Tourism Group
Thursday, 2 Jul 2015 09:00am EDT 

Pierre Et Vacances SA:Signed, with HNA Tourism Group, a non-binding memorandum of understanding aimed to form a strategic partnership in China and other Asian markets.Partnership would be to develop PVCP tourism concepts and mainly all-weather concepts of resorts inspired by center parcs.  Full Article

Pierre et Vacances and Morgan Stanley Real Estate Investing to collaborate on property development
Thursday, 22 Jan 2015 02:30am EST 

Pierre et Vacances SA:Strategic partnership agreement signed between the Pierre & Vacances-Center Parcs Group and Morgan Stanley Real Estate Investing.Pierre & Vacances and Morgan Stanley Real Estate Investing have signed partnership agreement for property and tourism development in Spain.Morgan Stanley Real Estate Investing is to acquire existing tourism property in Spain.Morgan Stanley Real Estate Investing fund plans to acquire between 3,000 and 8,000 apartments and homes in Spain.Pierre & Vacances to search for and select property assets.Pierre & Vacances to undertake delegated prime construction for renovation, extension or construction of property assets, property marketing to individuals in Spain and Europe.Pierre & Vacances to undertake tourism management of assets acquired and resold.  Full Article

Pierre Et Vacances SA to set up long-term partnership in China
Thursday, 4 Dec 2014 11:36am EST 

Pierre Et Vacances SA:Signs Letter of Intent to establish long-term partnership in development of tourism sites, in China and in France.Says letter of intent was signed with Beijing Capital Land (BCL).Says two initial sites around Beijing and Shanghai are under study in China.  Full Article

Pierre Et Vacances SA issues FY 2014/2015 and FY 2016/2017 guidance
Wednesday, 3 Dec 2014 04:00pm EST 

Pierre Et Vacances SA:Says actions are undertaken to return to operating profitability in tourism businesses as of FY 2014/2015 with view to delivering underlying operating margin of 5 pct in 2016/2017.Says it's likely to reach underlying operating profit/turnover target of 5-6 pct by FY 2017 if no major deterioration in European economy occurs.FY 2014/2015 turnover of 1.4 billion euros (growth of 4.1 pct) - Thomson Reuters I/B/E/S.FY 2014/2015 operating profit of 45.8 million euros (margin of 3.1 pct) - Thomson Reuters I/B/E/S.  Full Article

Pierre Et Vacances says Francoise Gri is leaving her functions as CEO
Tuesday, 21 Oct 2014 11:45am EDT 

Pierre Et Vacances SA:Says Francoise Gri is leaving her functions as CEO.Says it has decided to unite positions of chairman and CEO.Syas it is nominating Martine Balouka-Vallette to position of CEO tourism Pierre & Vacances and Center Parcs.  Full Article

Euro Disney and Pierre et Vacances-Center Parcs to start phase 1 construction on Villages Nature
Sunday, 25 May 2014 02:02pm EDT 

Pierre et Vacances SA:Euro Disney and Pierre et Vacances-Center Parcs, along with their 50/50 joint venture, Les Villages Nature de Val d’Europe SAS, announced signing of financing agreements for initial stage of Phase 1 construction on Villages Nature.Project backed by institutional investors, plus minority financing from two groups.Construction can now begin on initial stage of the development, which is targeted to open in 2016.Villages Nature is European eco-tourism destination designed for short and medium-length stays located 32 kilometers east of Paris in Seine-et-Marne.  Full Article

Pierre Et Vacances SA renews and raises syndicated loan
Friday, 14 Feb 2014 02:30am EST 

Pierre Et Vacances SA:Says to have signed on Feb. 13 definitive agreements with its partner banks to renew the syndicated loan due to mature in June 2015.Says the new 185 million euros bank financing, set to mature in 2019, is higher than the remaining commitment from lending banks for the previous syndicated loan (130 million euros on Dec. 31, 2013).  Full Article

Pierre Et Vacances SA announces its convertible bond issue over-alloted up to 115 mln euros
Wednesday, 5 Feb 2014 12:00pm EST 

Pierre Et Vacances SA:Says the Joint Lead Managers and Joint Bookrunners of the company's offering of ORNANEs launched on Feb. 4 have informed the company that they are exercising in full the over-allotment option granted to them.Says the total nominal amount of the bonds issue is thus increased to 115,000,010.52 euros, corresponding to 3,157,606 bonds.Says the expected date of issue and settlement and delivery of the bonds is Feb. 12.  Full Article

Pierre Et Vacances SA announces final terms of convertible bond issue
Tuesday, 4 Feb 2014 08:53am EST 

Pierre Et Vacances SA:Announces final terms of its offering of convertible bonds (ORNANES) due Oct. 1, 2019.Says the offering is for about 100 million euros, which may be increased up to a maximum nominal amount of about 115 million euros in case of full exercise of the 15 percent over-allotment option.Says the nominal value per Bond has been set at 36.42 euros.Says the Bonds will bear interest at an annual nominal rate of 3.50 percent, payable semi-annually in arrear on Apr. 1 and Oct. 1 of each year.Says the bonds will be issued at par on Feb. 12.Says BNP Paribas, Credit Agricole Corporate and Investment Bank and Natixis are acting as Joint Lead-Mangers and Joint Bookrunners.  Full Article

BRIEF-Pierre et Vacances Q3 revenue down at 298.9 million euros

* Q3 revenue 298.9 million euros ($325.80 million) versus 315.6 million euros year ago

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