#Dubai Park Operator to Hire Advisers to Assess Takeover Offer - Bloomberg

Dubai Park Operator to Hire Advisers to Assess Takeover Offer - Bloomberg

The Legoland Dubai theme park, operated by DXB Entertainments PJSC, in Dubai.

 Photographer: Christopher Pike/Bloomberg

DXB Entertainment PJSC plans to hire advisers to evaluate state-controlled Meraas Holding LLC’s offer to acquire the Dubai theme park operator’s debt and take it private.

The board approved appointing KPMG and Shuaa Capital as financial advisers and Allen & Overy LLP as legal adviser, according to a regulatory filing Wednesday.

Last week, Meraas offered to acquire debt worth 4.26 billion dirhams ($1.16 billion) and convert it into new DXB Entertainment shares, boosting its ownership to more than 90%. DXB Entertainment hasn’t posted a profit since listing and the stock has lost more than 90% of its value since a peak in 2016.