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Leisure tycoon Hugh Osmond has agreed a £480 million sale and leaseback of four of the holiday villages owned by Center Parcs.

The acquisition is through Osmond’s investment vehicle Sun Capital Partners and Deutsche Bank Capital Partners. Two years ago Deutsche Bank bought Center Parcs from Scottish & Newcastle.

Joint lead arrangers Credit Suisse First Boston (CSFB) and Credit Lyonnais are launching a seven-year, £391 million syndicated term loan facility for the joint venture.

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