Spain's Parques Reunidos buys Ananda Krishnan's company for RM1.07b

Thinking ahead: Ananda is known to embark on corporate exercises that takes the market by surprise

HONG KONG: Parques Reunidos Servicios Centrales SA, the Madrid-based entertainment park operator, has agreed to buy a tropical-themed resort in Germany for 226mil euros (US$256mil) or RM1.07bil.

The Spanish firm reached an agreement with a holding company of Malaysian billionaire T. Ananda Krishnan to acquire Tropical Islands Resort, according to a Tuesday filing, confirming a Bloomberg News story. 

The deal is expected to be completed by February, the filing shows.

Tropical Islands Resort, located about 60 kilometers (37 miles) south of Berlin, was built in a former airship hangar and opened for business in 2004, its website shows. 

Attractions include the world’s largest indoor rainforest, palm tree-lined artificial beaches, a water park featuring a “Whitewater River,” a spa complex and a miniature golf course.

Tanjong Plc, a holding company for some of Krishnan’s leisure and property investments, owns a controlling stake in the resort, while business partner Colin Au holds the remainder. 

Ananda, Malaysia’s fifth-richest person, has been shifting his focus to domestic investments after Aircel Ltd., an Indian wireless operator he controls, filed for bankruptcy protection this year.  - Bloomberg