UBS has shelved plans to float GB Holiday Parks, a privately-owned UK caravan site operator, and is set to draw up a shortlist of potential buyers next week.

Equity Finance, formerly Royal Bank Development Capital, the private equity arm of the Royal Bank of Scotland, is looking to raise about £100m (€147.6m) from the sale. In April this year the private equity house appointed UBS to sell or float the business. It acquired its stake for £40m in a 2001 management buy-out. The deal included £23m of debt from Barclays Capital.