BUZZ-Mubadala Capital buyout offer lifts Pierre et Vacances shares

Penn Virginia Corporation

Penn Virginia Corporation

PVAC

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** French holiday resort operator Pierre et Vacances PVAC.PA rise 3.7%, paring earlier gains of nearly 6%, after receiving a fully financed binding buyout offer from Mubadala Capital

** The company says its board of directors welcomes the offer, which values shares at €1.9 each "cum distribution" with a potential top-up to €2

** Pierre et Vacances' shares reached €1.85 at 0830 GMT

** A formal tender offer filing is expected in the first quarter of 2027, it adds, with Mubadala Capital targeting a squeeze-out and to delist the firm from the market


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