Blackstone Said in Talks to Buy Stake In U.K.’s Butlins Owner

Blackstone Group Inc. is in talks to buy a majority stake in Bourne Leisure, which owns some of the U.K.’s best-known holiday parks, according to people familiar with the matter.

The private equity firm is seeking to invest as much as 900 million pounds ($1.2 billion) in Bourne Leisure, owner of the Butlins, Haven and Warner Leisure Hotels businesses, the people said, asking not to be identified as negotiations are ongoing.

A deal would value privately-owned Bourne Leisure at about 3 billion pounds including debt, according to the people. Representatives for Blackstone and Bourne Leisure declined to comment.

This would ...