30 March 2005 – LAWFUEL – The Law News Network – Linklaters has advised Dubai International Capital (DIC) on its £800 million acquisition of the Tussauds Group Limited from Charterhouse General Partners. As well as taking control of the famous Tussaud waxwork museums in London, New York, Las Vegas, Amsterdam and Hong Kong, the deal also involves the acquisition of four theme parks, three in Britain and one in Soltau, Northern Germany as well as a one-third stake in the London Eye. These attractions host some 14 million visitors a year making Tussauds Europe’s largest theme park group.
Commenting on the transaction, Linklaters partner Derek McMenamin said:
“We are delighted to have worked with DIC to help it acquire the Tussauds Group. This is an excellent deal and, coming shortly after our assisting IHG with the £1 billion sale of its UK hotel portfolio, underlines our capabilities and understanding within the leisure and hotels sector.”
The deal was announced on 23 March 2005. The Linklaters team was led by corporate partners Derek McMenamin and Jon Hayes. Other members of the team were, Robert Cleaver, Fiona Gregory, Sarah Townson, Nick Glynn, Madeline Skinner (corporate) and Charles Dunn, Nick Tostivin, Martin MacDonald, Fiona Gray and Darren Sumich (banking).