CVC and Blackstone launch US$1bn sale of Merlin shares
by Tom Anstey | 03 Mar 2015
156,541,347 shares are being sold through Deutsche Bank via an accelerated bookbuild / Shutterstock.com
Private equity firms CVC and Blackstone have launched the sale of their remaining shares in Merlin Entertainments.
156,541,347 shares are being sold through Deutsche Bank via an accelerated bookbuild. According to Reuters, a source familiar with the matter said the shares were being sold at a range of 417-426.50 pence per share. At the top end of share value, the placement would be worth £667.6m (US$1bn, €917.6bn).
Last week, Merlin posted strong end of year results, recording a compounded annual growth rate from 2010 to 2014 of 12.6 per cent and welcoming 62 million visitors across its portfolio of 105 attractions. This was attributed to positive growth from existing attractions along with the continued rollout of its various brands, in particularly its Lego theme parks.
US-based Blackstone has been active on the market, recently hiring several investment banks to lay the foundations for a £2.5bn (US$3.8bn, €3.4bn) London listing of UK leisure resort chain Center Parcs.
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Private equity firms CVC and Blackstone have launched the sale of their remaining shares in Merlin Entertainments. 156,541,347 shares are being sold through Deutsche Bank via an accelerated bookbuild. According to Reuters, a source familiar with the matter said the shares were being sold at a range of 417-426.50 pence per share. At the top end of share value, the placement would be worth £667.6m (US$1bn, €917.6bn). Last week, Merlin
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