Merlin Entertainments earlier this week announced plans to raise
£200 million through going public on the London
Stock Exchange. The proceeds of the listing, which has been
estimated to value the business at around £3 billion, will be
used for debt repayment and to pay the costs of
flotation. Private equity shareholders Blackstone
and CVC, along with family holding and investment company KIRKBI,
which owns a significant stake in the LEGO Group, are expected to
sell some of their shares as part of the IPO process.
Merlin Entertainments operates 99 sites in 22 countries, with
over 54 million visitors in 2012, and is the world's
second-largest visitor attraction operator after Walt Disney.
In the South East, the company operates Brighton's SEA LIFE,
Chessington World of Adventures and Thorpe Park, as well as
LEGOLAND Windsor and Madame Tussauds. Other locations in
the UK include Alton Towers and Warwick Castle.
Nick Varney, Chief Executive Officer, said: "Delivering
memorable experiences to our millions of visitors is our passion
and we see a world of opportunity ahead of us.... The IPO will
provide [us] with the platform for our next stage of
development and allow us to plan for the longer term. As such we
are very excited about this next chapter of our story, and look
forward to creating value for our shareholders and more magic for
our customers."
Commenting on the company's plans, Jonathan Deverill, Partner
and Head of Capital Markets at leading South East law firm DMH
Stallard, said: "Merlin's confidence in both its own
business and the stock market is a further sign of improving
conditions for IPOs. This is good news for those working at
Merlin's attractions in the South East, and for other
businesses in the region currently weighing up whether to
list."
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