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 Expert urges cat lovers to own just one animal each
- 2 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 3 The Simpsons death: Creator Al Jean would 'kill himself' before character like Homer or Lisa
- 4 British man raped while urinating in bushes at Oktoberfest beer festival in Germany
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Expert urges cat lovers to own just one animal each
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
British man raped while urinating in bushes at Oktoberfest beer festival in Germany
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
'Women, walk wherever you want' posters taken down in Stamford Hill following 'unacceptable' signs separating men and women
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Mark Reckless becomes second Tory MP to defect to Ukip in a month
Should gay sex be illegal? 16% of Britons think so
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...