×
You will be redirected back to your article in seconds

U sells Port Aventura stake

Pacts for logo to continue theme park association

GIJON, Spain — NBC-owned Universal Studios has exited Spanish theme park Port Aventura, selling its 37% stake to Catalan savings bank La Caixa.

Reported price of the deal is e25 million ($30 million).

Following the agreement, La Caixa now owns 80% of Universal Mediterranea, the holding company that owns Port Aventura, other amusement park interests and a bevy of hotels in Spain. U has inked a licensing deal under which its logo will continue to be associated with Port Aventura.

While yielding cash to Universal, deal is just the latest move in Spain’s volatile and cash-strapped theme park sector.

The Paramount Parks-managed Terra Mitica suspended payments last month. Port Aventura has a better cash flow, posting losses of just $5.7 million in 2002.

Attendance at Port Aventura has not met initial — and highly optimistic — expectations. However, La Caixa, Spain’s wealthiest savings bank, says it is in for the long haul.

More Biz

  • President Donald Trump talks with Gov.-elect

    Trump Says He'll Work With California to Aid Wildfire Relief

    GIJON, Spain — NBC-owned Universal Studios has exited Spanish theme park Port Aventura, selling its 37% stake to Catalan savings bank La Caixa. Reported price of the deal is e25 million ($30 million). Following the agreement, La Caixa now owns 80% of Universal Mediterranea, the holding company that owns Port Aventura, other amusement park interests […]

  • church set Westworld Paramount Ranch Western

    Park Service Aims to Rebuild Western Town at Paramount Ranch in Two Years

    GIJON, Spain — NBC-owned Universal Studios has exited Spanish theme park Port Aventura, selling its 37% stake to Catalan savings bank La Caixa. Reported price of the deal is e25 million ($30 million). Following the agreement, La Caixa now owns 80% of Universal Mediterranea, the holding company that owns Port Aventura, other amusement park interests […]

  • Jim Acosta Microphone Moment

    First They Came For Acosta. Why We Sued Trump Before He Acts Again (Opinion)

    GIJON, Spain — NBC-owned Universal Studios has exited Spanish theme park Port Aventura, selling its 37% stake to Catalan savings bank La Caixa. Reported price of the deal is e25 million ($30 million). Following the agreement, La Caixa now owns 80% of Universal Mediterranea, the holding company that owns Port Aventura, other amusement park interests […]

  • Daniel GlassUJA-Federation of New York's Music

    Glassnote Music Strikes Strategic Partnership With Kobalt’s AWAL

    GIJON, Spain — NBC-owned Universal Studios has exited Spanish theme park Port Aventura, selling its 37% stake to Catalan savings bank La Caixa. Reported price of the deal is e25 million ($30 million). Following the agreement, La Caixa now owns 80% of Universal Mediterranea, the holding company that owns Port Aventura, other amusement park interests […]

  • Movie Theater

    Studios Expected to Push for Early Home Release in 2019 (EXCLUSIVE)

    GIJON, Spain — NBC-owned Universal Studios has exited Spanish theme park Port Aventura, selling its 37% stake to Catalan savings bank La Caixa. Reported price of the deal is e25 million ($30 million). Following the agreement, La Caixa now owns 80% of Universal Mediterranea, the holding company that owns Port Aventura, other amusement park interests […]

  • NetEase Discusses Importance of Chinese Gaming

    NetEase Discusses Importance of Chinese Gaming Regulation, Anti-Addiction Measures

    GIJON, Spain — NBC-owned Universal Studios has exited Spanish theme park Port Aventura, selling its 37% stake to Catalan savings bank La Caixa. Reported price of the deal is e25 million ($30 million). Following the agreement, La Caixa now owns 80% of Universal Mediterranea, the holding company that owns Port Aventura, other amusement park interests […]

  • Iggy Azalea at Hits 97.3, Fort

    Iggy Azalea Says She’s Signed a $2.7 Million Deal

    GIJON, Spain — NBC-owned Universal Studios has exited Spanish theme park Port Aventura, selling its 37% stake to Catalan savings bank La Caixa. Reported price of the deal is e25 million ($30 million). Following the agreement, La Caixa now owns 80% of Universal Mediterranea, the holding company that owns Port Aventura, other amusement park interests […]

More From Our Brands

Access exclusive content