Model deal: the owners of the Legoland attractions, like this one in Windsor have enlarged their holding in Merlin
Dubai International Capital has sold two-thirds of its 17 per cent stake in Merlin Entertainments, to the family behind Lego, which is a fellow investor in the theme park operator behind the London Eye and Legoland attractions.
The Dubai sovereign wealth fund agreed the sale with the Lego founding family – led by Kjeld Kirk Kristiansen, grandson of the founder – in the summer of 2009. This was shortly before Merlin started work on a £2bn ($3bn) initial public offering. But it has been kept secret since then to avoid speculation of a fire sale by Dubai, which has faced questions about its strategy since suffering a debt crisis late last year.
The proceeds of about £100m have been used by DIC to support other companies in its troubled European portfolio. These include Travelodge, the UK hotel chain;Mauser, the German packaging business; and Doncasters, the UK engineering group.
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