Criteria finds partner for theme park resort

 

Spain's Criteria Caixa Corp said on Thursday it had found a partner to share its fully-owned Port Aventura theme park resort in Tarragona in north-eastern Spain.

Invest Industrial, an investment firm for mid-cap markets in southern Europe, will take a 50 percent stake in Port Aventura through a 94.8 million-euro ($137 million) capital increase.

With the incorporation of Invest Industrial, Port Aventura's businesses will be reorganised into two separate companies, one to manage leisure operations and another to oversee property assets.

Criteria will own 50 percent of the company managing the leisure assets and fully own the company managing the property business.

Invest Industrial and Criteria plan to invest 80 million euros in Port Aventura over the next four years.