Terra Mítica is up for sale

Terra Mítica is up for sale
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By h.b. - Jun 30, 2010 - 2:21 PM
The loss-making Benidorm theme park has seen a recent recovery in cash flow

Archive Photo EFE

The Terra Mítica theme park in Benidorm is up for sale with the main shareholders in talks to sell either their shares or the running of the park.

Those shareholders are the Caja Mediterrándeo CAM, Bancaja and Sociedad Proyectos Temáticos, and any deal reached could be joined in with by smaller shareholders.

Chairman of Terra Mítica, David Lladró, told a shareholders’ meeting that they had assembled 84.31% of the capital for the sale.

The EBITA for the park increased by 50% last year despite the recession, but losses after tax were still 16.4 million €.

The Chairman said that are three leisure groups reportedly interested in making a purchase, but he declined to name them at this stage.

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