#Dubai's IMG Said to Weigh Sale of Largest Indoor Theme Park - Bloomberg

Dubai's IMG Said to Weigh Sale of Largest Indoor Theme Park - Bloomberg:

The owner of the world’s largest indoor theme park in Dubai is exploring options for the business, including a possible sale, according to people familiar with the matter.

Ilyas & Mustafa Galadari Group, known as IMG, is considering selling part or all of its IMG Worlds of Adventure theme park after struggling to restructure a 1.2 billion-dirham ($327 million) loan, the people said, asking not to be identified because the plans are private. Discussions are at an early stage and the owners may decide to keep the business or consider an initial public offering at a later date, they said.

“We are not planning to sell IMG in any form, neither partial and wholly,” Chief Executive Officer Leonard Otto said in an emailed response to questions. “We are not in any discussion around the same,” he said, adding that IMG is in advanced talks with banks “on our syndicate-loan restructuring to support the business.”