The number of bidders taking part in the estimated £900m auction for entertainment and theme park group, Tussauds, has dropped.
Following the earlier withdrawal of Kohlberg Kravis Roberts, Permira then announced it would be pulling out of the bidding process for the group – whose attractions portfolio includes Alton Towers, Chessington
World of Adventures and Madame Tussauds.
Those remaining in the bidding race include French private equity group PAI, and UK organisation, BA Partners.
According to reports, PAI is believed to have made the highest bid, although the bid is still rumoured to be below the £900m mark.