Parques Reunidos acquired Tropical Islands water park from Tanjong for €226m.

Parques Reunidos has reached an agreement with Tangoing to acquire the German indoor water park Tropical Islands for a total amount of €226m ($257m). This is the largest single-park acquisition in Parques Reunidos’ history. Tropical Islands is the world’s largest indoor water park and rainforest. The Park offers a combination of the water park and other leisure activities with different formats of lodging facilities. The indoor setting combined with the themed accommodation it provides, allows the Park to open year-round. The acquisition will be financed with an additional tranche to the Group’s existing syndicated credit facilities with similar conditions to the existing financing. The transaction is expected to be earnings accretive from the year one.