Sun Communities to sell UK assets including Park Holidays to Aermont for £768M

Sun Communities said it entered into a definitive agreement to sell its UK assets, including the Park Holidays business, to funds affiliated with Aermont Capital in an all-cash transaction with an enterprise value of £768 million. Sun said the sale would allow the company to focus on its North American manufactured housing and RV platform, with the transaction subject to customary closing conditions and UK Financial Conduct Authority approval.