Pierre & Vacances-Center Parcs: Success of the Restructuring Process of Villages Nature Tourisme

End of the accelerated safeguard procedure opened on July 29, 2022 for the benefit of the Company

PARIS--(BUSINESS WIRE)--Regulatory News:

Pierre & Vacances-Center Parcs (Paris:VAC):

1. Successful operations for Villages Nature Tourisme

Pierre et Vacances (the "Company") announces, today, the success of the restructuring operations of Villages Nature Tourisme as set out in the conciliation protocol (protocole de conciliation) approved on May 19, 2022. These transactions have enabled the Group to obtain an equity financing by December 15, 2022, from the investors of the current main institutional lessor of the Villages Nature Paris project, for an additional tranche of development of the site, amounting to 193 new cottages and an additional facility dedicated to the site, and the acquisition by the Group of the remaining share capital of Villages Nature Tourisme (previously held on an equal basis with a partner of the Group). For more information on these transactions, please refer to the press release dated March 10, 2022.

2. End of the accelerated safeguard procedure opened on July 29, 2022 for the benefit of the Company

On December 5, 2022, the Paris Commercial Court noted that the execution of the accelerated safeguard plan (plan de sauvegarde accélérée) had been completed.