Comcast to buy rest of Universal Japan for US$2.3bn
by Tom Anstey | 01 Mar 2017
Universal Japan helped Comcast's parks revenues soar last year / topnatthapon / Shutterstock.com
After purchasing a majority stake in Universal Studios Japan in 2015, Universal’s parent company Comcast has reached a deal to acquire the remaining 49 per cent of the theme park for US$2.3bn (€2.2bn, £1.9bn).
Universal is purchasing the stake from a number of parties, including Goldman Sachs, former Universal Japan CEO Glenn Gumpel, private equity firm MBK Partners and US hedge fund Owl Creek.
The deal places a total net value of US$7.4bn (€7bn, £6bn) on the park, which includes the assumption of debt.
The US$1.5bn (€1.4bn, £1.2bn) majority acquisition of Universal Japan in late 2015 proved a great success for the operator last year, with year-on-year theme park revenue in 2016 increasing 48.2 per cent to US$4.9bn (€4.6bn, £3.9bn), with operating cash flow also increasing 49.6 per cent to US$2.2bn (€2bn, £1.7bn).
Universal Japan opened its Wizarding World of Harry Potter attraction in 2014 and has continued to invest off the back of its success, starting an aggressive expansion of its theme park business globally, including plans for Nintendo-themed attractions, its upcoming Volcano Bay in Orlando and its largest ever theme park project – a CN¥50bn (US$7.4bn, €6.65bn, £6bn) development set to open in Beijing in 2020.
Universal Studios Japan theme park Comcast Universal Goldman Sachs MBK Partners Owl Creek Glenn Gumpel27 Jan 2017
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After purchasing a majority stake in Universal Studios Japan in 2015, Universal’s parent company Comcast has reached a deal to acquire the remaining 49 per cent of the theme park for US$2.3bn (€2.2bn, £1.9bn). Universal is purchasing the stake from a number of parties, including Goldman Sachs, former Universal Japan CEO Glenn Gumpel, private equity firm MBK Partners and US hedge fund Owl Creek. The deal places a total net
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