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Six Flags names European buyer
POSTED 15 Apr 2004 . BY
One of the world’s largest leisure park operators, Six Flags, has revealed the identity of the buyer of its European theme parks.

Palamon Capital Partners, a private equity firm, has agreed to pay $183m (£102m) for the parks.

All parks will be renamed and the new company will operate as Star Parks Luxembourg.

William Muirhead was also named chief executive and Michael Jolly, former Tussauds chair, will join as a non-executive chair.

Six Flags is now left with just one amusement park in its European portfolio – the Warner Bros Movie World in Madrid, Spain, which it helped found.

Kieran Burke, chair, said: “While we continue to believe that there are potential internal and external growth opportunities in Europe, the sale of our European operations will enable us to focus our management and capital resources more completely on our North American operations.”

Last month, the troubled company also sold its Worlds of Adventure Park in Cleveland, Ohio, to Cedar Fair for $145m (£80.8m).

The offloading tactic marks a dramatic turnaround in the company’s strategy.

It has for long been eager to reduce its debt, which has soared to around $2bn (£1.12bn). Six Flags has admitted that cash from the deals would be used to cut the outstanding balance. Details: www.sixflags.com

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Jobs . News . Products . Magazine
NEWS
Six Flags names European buyer
POSTED 15 Apr 2004 . BY
One of the world’s largest leisure park operators, Six Flags, has revealed the identity of the buyer of its European theme parks.

Palamon Capital Partners, a private equity firm, has agreed to pay $183m (£102m) for the parks.

All parks will be renamed and the new company will operate as Star Parks Luxembourg.

William Muirhead was also named chief executive and Michael Jolly, former Tussauds chair, will join as a non-executive chair.

Six Flags is now left with just one amusement park in its European portfolio – the Warner Bros Movie World in Madrid, Spain, which it helped found.

Kieran Burke, chair, said: “While we continue to believe that there are potential internal and external growth opportunities in Europe, the sale of our European operations will enable us to focus our management and capital resources more completely on our North American operations.”

Last month, the troubled company also sold its Worlds of Adventure Park in Cleveland, Ohio, to Cedar Fair for $145m (£80.8m).

The offloading tactic marks a dramatic turnaround in the company’s strategy.

It has for long been eager to reduce its debt, which has soared to around $2bn (£1.12bn). Six Flags has admitted that cash from the deals would be used to cut the outstanding balance. Details: www.sixflags.com

MORE NEWS
New attractions drive profits as Universal reports strong Q1
Continued impressive results from Universal's theme park division has fueled strong revenue's for Comcast's first quarter, with theme park revenues increasing by 14.5 per cent.
Three more theme parks for China as Six Flags enjoys record start to 2018
Off the back of a record financial start to the year, Six Flags has announced plans to develop three more theme parks in China as the operator continues to ride the international wave of momentum it has created.
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Cream of tourism crop revealed with VisitEngland's latest Awards for Excellence
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+ More news   
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Guest Experience Manager
SnowDome
Salary: Circa £30,000
Job location: Tamworth, UK
Games & Wristbands Manager
West Midland Safari and Leisure Park
Salary: £22,000 - £25,000
Job location: Worcs, UK
Senior Bowling Technician
NAMCO UK Ltd
Salary: Competitive Salary & Benefits
Job location: Manchester, UK
Food and Beverage Manager
NAMCO UK Ltd
Salary: Circa £23,000
Job location: Manchester, UK
Performance Assistant Team Leader
Hamburg Dungeon
Salary: Competitive Salary & Benefits
Job location: Hamburg, Germany
Retail, Admissions & Membership Manager
The Wildfowl and Wetlands Trust
Salary: £33,065
Job location: London, UK
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
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LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
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