LONDON, March 27 (Reuters) – Merlin Entertainments Group, the private-equity backed owner of Madame Tussauds and Legoland, is preparing to go public in either London or New York and has been meeting with potential investors, its chief executive said on Wednesday.
- Looking at possible float in London, New York
- Would not float before summer, not yet appointed banks
- Operating profit rose 16.5 pct for year to Dec. 29
- Proceeds to pay down debt, fund expansion in U.S., Asia
The world’s second largest visitor attraction operator behind Walt Disney, had revenue of over one billion pounds for the year to Dec. 29 2012, and was valued at 2.25 billion pounds ($3.41 billion) in 2010 when private equity firm CVC Capital Partners bought a stake.
“We are definitely now considering our options,” Chief Executive Nick Varney told Reuters, adding a sale would allow it to pay down debt of 1.27 billion pounds as at the end of December, and help fund expansion in the U.S and Asia.
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