October 2003: ADVENT INTERNATIONAL (“ADVENT”), one of the largest and longest established private equity firms in the world, with funds under management currently in excess of US$2.4 billion, launches a public offer for 100% of the fully diluted share capital of PARQUES REUNIDOS, S.A. (“PARQUES REUNIDOS”). The company manages a total of 15 leisure parks throughout Spain. It is the second largest national operator and one of the four largest in Europe. The offer by ADVENT values PARQUES REUNIDOS at €226,2 million (enterprise value) and, prior to launch, has been irrevocably accepted by shareholders representing a total of 59% of the company’s share capital. This transaction represents the first ever Public To Private operation launched in the Spanish market.

SOCIOS FINANCIEROS originates the transaction concept and is responsible for designing the offer. It advises the private equity firm on all commercial and financial aspects of the transaction’s execution, including formulation of the business plan to be followed once PARQUES REUNIDOS is removed from the public market arena.