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Merlin float to value theme park operator at £3.3 billion

Merlin Entertainments is expected to be valued at between £2.8 billion and £3.3 billion when it floats on the stock market.


Proceeds from the primary offering of £200 million in the initial public offering will be used to cut debts.


The long-anticipated float of the theme parks company was announced last week and further details emerged this morning.


Dealings in the shares on the London Stock Exchange are expected to start November 12.


Existing shareholders Blackstone, CVC and Lego owner KIRKBI are each expected to sell a proportion of their shareholdings. KIRKBI intends to remain a long-term strategic shareholder in the group with a “significant” shareholding.


Chief executive Nick Varney said: “We believe that Merlin Entertainments has bright prospects for the future and, as we said in our intention to float announcement, the listing will provide us with the platform for our next stage of development.


“We look forward to embarking on the next stage of the process.”

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