DIC set to sell Merlin stake
Sunday 29 November 2009
Dubai International Capital (DIC), the private-equity arm of the beleaguered state's sovereign wealth fund, is set to end its interest in London Eye and Legoland owner Merlin Entertainments.
DIC, which has a 20 per cent stake in the group, is expected to sell out when Merlin floats on the London Stock Exchange early next year. Blackstone, the US private-equity giant and primary shareholder, will slightly reduce its stake, while the family behind the Legoland group is considering increasing its share.
DIC's move is a surprise because Dorset-based Merlin's float is one of the most anticipated of 2010.
The business has been the poster child for the private-equity industry, as it has grown from just owning Sea Life Centres to being the second-biggest entertainment group in the world after Disney.
The move will fuel fears that Dubai-based investors are in need of cash, though DIC is generally regarded to have been far more resilient than Dubai World.
- 1 BBC told new political editor must be 'impartial' with Nick Robinson reportedly stepping down
- 2 Number of young homeless people in Britain is 'more than three times the official figures'
- 3 Humans of New York image of crying gay teen receives best response yet from Ellen DeGeneres
- 4 The map showing the most dangerous tourist destinations in Europe, according to the Foreign Office
- 5 Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
More Britons believe that multiculturalism makes the country worse - not better, says poll
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
iJobs Money & Business
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...
£20000 - £25000 per annum + OTE £45K: SThree: SThree were established in 1986....
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...