Pierre et Vacances SA (PVAC.PA) Key Developments | Reuters.com
Edition:
United States

Pierre et Vacances SA (PVAC.PA)

PVAC.PA on Paris Stock Exchange

39.50EUR
11:37am EDT
Change (% chg)

€0.85 (+2.20%)
Prev Close
€38.65
Open
€38.99
Day's High
€40.80
Day's Low
€38.99
Volume
49,536
Avg. Vol
11,976
52-wk High
€41.98
52-wk Low
€23.51

Latest Key Developments (Source: Significant Developments)

Pierre et Vacances H1 revenue 585.5 million euros vs 650.7 million euros
Wednesday, 25 May 2016 04:00pm EDT 

Pierre Et Vacances Sa : Says H1 revenue 585.5 million euros versus 650.7 million euros .Says first half 2015/2016 revenue from tourism businesses stood at 521.8 million euros, up 9.6% relative to H1 2014/2015.  Full Article

Pierre et Vacances announced reserved rights issue for the HNA Tourism Group
Tuesday, 29 Mar 2016 08:00pm EDT 

Pierre Et Vacances SA:Announces a reserved rights issue for the HNA Tourism Group.Under the framework of this operation, HNA Tourism Group has subscribed to 980,172 new shares representing 10.00 pct of the capital of Pierre et Vacances post-operation, at a unit price of 25.18 euro and representing a total capital increase of 24,680,730.96 euros.Following this operation, S.I.T.I, the holding company controlled by Gérard Bremond, individually owns 39.83 pct of the capital and 56.42 pct of the voting rights of Pierre et Vacances SA.  Full Article

Pierre Et Vacances gives Q2 2016 turnover guidance
Tuesday, 19 Jan 2016 11:40am EST 

Pierre Et Vacances SA:Is forecasting higher growth in turnover during Q2 of year than in Q1.  Full Article

Eurosic accompanies Pierre et Vacances in new German project
Thursday, 26 Nov 2015 02:55am EST 

Eurosic SA:Accompanies Pierre et Vacances-Center Parcs in its European expansion through development of new project in Germany.Eurosic and Pierre et Vacances-Center Parcs have concluded exclusive agreement for acquisition by Eurosic of Center Parcs Allgäu development project, delivery of which is scheduled for late 2018, early 2019.Says investment is in the range of 255 million euros and the project will be fully leased to Pierre & Vacances-Center Parcs under long lease term.  Full Article

Pierre et Vacances and HNA Tourism Groups sign strategic partnership
Monday, 9 Nov 2015 02:00am EST 

Pierre Et Vacances SA:Announces signature of strategic partnership agreements between Pierre & Vacances-Center Parcs and HNA Tourism Groups.Implementation of agreements remains subject to customary approvals by French and Chinese authorities.These projects will be implemented within joint-venture 60 percent owned by HNA Tourism Group and 40 percent by Pierre & Vacances-Center Parcs that will be incorporated by end of 2015.This joint-venture will support real estate and tourism services provided on behalf of investors from each project.It will be granted exclusivity to develop concepts inspired by Center Parcs in China.HNA tourism group commits to mobilize funding for 5 first projects over next three years, for a total investment value estimated at 1 billion euros.Agreements between both groups plan an equity investment of HNA Tourism Group into Pierre Et Vacances S.A.HNA Tourism Group will subscribe to a reserved capital increase representing 10.00 percent of PVSA capital post transaction at a price of 25.18 euros per share.Following this capital increase, SITI (holding controlled by Gérard Bremond) will hold 39.83 percent of PVSA capital and 57.99 percent of voting rights.As part of this partnership, SITI and HNA Tourism Group signed a shareholders' agreement as follows.HNA Tourism Group to commit to a lock-up and standstill clauses.HNA Tourism Group to have two representatives at PVSA board of directors.SITI to maintain its majority representation at PVSA board of directors.  Full Article

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