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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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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
Getty Museum refuses to surrender prized Greek bronze to Italy
The European Court of Human Rights has recognised Italy’s claim to a prized Greek antiquity.
Merlin unveils record-breaking Hyperia coaster at Thorpe Park
Merlin Entertainments has launched its new Hyperia rollercoaster at Thorpe Park to celebrate its 45th year.
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.
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COMPANY PROFILES
TechnoAlpin

TechnoAlpin is the world leader for snowmaking systems. Our product portfolio includes all different [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

03-05 Sep 2024

ASEAN Patio Pool Spa Expo

IMPACT Exhibition Center, Bangkok, Thailand
03-08 Sep 2024

Spa Peeps International Corporate Cruise

Cruise London, Amsterdam, Zeebrugge, United States
+ More diary  
 


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Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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