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NEWS
Charterhouse keeps Tussauds
POSTED 08 Dec 2003 . BY
The sale of Tussauds Group by private equity firm Charterhouse Development Capital (CDC) stalled late on 5 December after CDC decided to recapitalise instead of accepting offers from either of the two remaining bidders.

Charterhouse put the entertainment group up for sale in the summer via an auction run by investment bank Lazards and two bids were subsequently received – from venture capitalist organisations PAI and London-based BC Partners.

However, the bids – believed to be at £750m and £800m – were significantly below the sought offer of £900m and were deemed not to ‘truly reflect the value of the group’s business’.

Charterhouse has subsequently decided to retain the Tussauds Group and recapitalise over the next two years while expanding the group’s business interests.

A spokesperson said: “Charterhouse decided the bids received did not fully reflect the value of the group and has therefore decided to retain its investment and is committed to funding the future growth plans of Tussauds.”

Charterhouse has owned Tussauds since 1998 and expanded the group from six to 13 attractions. Earnings have doubled from £30.7m in 2000 to £65.1m in 2002.

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CATALOGUE GALLERY
 

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18-22 May 2024

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23-24 May 2024

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NEWS
Charterhouse keeps Tussauds
POSTED 08 Dec 2003 . BY
The sale of Tussauds Group by private equity firm Charterhouse Development Capital (CDC) stalled late on 5 December after CDC decided to recapitalise instead of accepting offers from either of the two remaining bidders.

Charterhouse put the entertainment group up for sale in the summer via an auction run by investment bank Lazards and two bids were subsequently received – from venture capitalist organisations PAI and London-based BC Partners.

However, the bids – believed to be at £750m and £800m – were significantly below the sought offer of £900m and were deemed not to ‘truly reflect the value of the group’s business’.

Charterhouse has subsequently decided to retain the Tussauds Group and recapitalise over the next two years while expanding the group’s business interests.

A spokesperson said: “Charterhouse decided the bids received did not fully reflect the value of the group and has therefore decided to retain its investment and is committed to funding the future growth plans of Tussauds.”

Charterhouse has owned Tussauds since 1998 and expanded the group from six to 13 attractions. Earnings have doubled from £30.7m in 2000 to £65.1m in 2002.

MORE NEWS
Second Chaos Karts launches in Dubai
Live action video game experience Chaos Karts has launched in a 15,000sq ft arena in Al Quoz, Dubai.
Vietnam Van Gogh exhibition uses VIOSO-powered immersive installations
Twenty-five cameras, nine servers, 70 projectors and a range of AV technologies are being used to bring the art of Van Gogh to life in Ho Chi Minh City, Vietnam.
Use of cinematography techniques significantly increases engagement with VR
A study has found that the use of cinematic and video editing techniques can drastically increase the aesthetic appeal and user engagement of virtual reality environments.
Disneyland Paris renames theme park as part of $2 billion transformation
Disneyland Paris has unveiled a new name for Walt Disney Studios Park as part of the park’s US$2 billion transformation.
UK's Royal attractions had a bumper year in 2023
Numbers from the Association of Leading Visitor Attractions, (ALVA) show that Royal attractions saw a huge increase in visitor numbers during 2023 – the coronation year of King Charles III.
Efteling to convert steam trains to electric as part of green drive
+ More news   
 
COMPANY PROFILES
QubicaAMF UK

QubicaAMF is the largest and most innovative bowling equipment provider with 600 employees worldwi [more...]
Simworx Ltd

The company was initially established in 1997. Terry Monkton and Andrew Roberts are the key stakeh [more...]
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
IAAPA EMEA

IAAPA Expo Europe was established in 2006 and has grown to the largest international conference and [more...]
+ More profiles  
FEATURED SUPPLIER

Red Raion expands global presence with new Riyadh office
Red Raion, the CGI studio for media-based attractions, has announced the opening of its new office in Riyadh, Saudi Arabia. [more...]
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

18-22 May 2024

Eco Resort Network

The Ravenala Attitude Hotel, Mauritius
23-24 May 2024

European Health Prevention Day

Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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