Merlin prepares for stock market float
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Merlin Entertainments is rumoured to be preparing a GBP3 billion plus stock market floatation in London, the Times has reported.
The company, which owns brands like Madame Tussauds and Legoland, has written to eight investment banks asking them to partake in a ‘beauty parade’ of potential advisors to an initial public offering (IPO).
The banks will include Citi, JP Morgan, Deutsche Bank, Goldman Sacha, Cazenove, Barclays and Goldman Sachs. However, the company has previously announced a stock market float, in 2010, with Goldman and Citi leading the bid. Due to Goldman’s high profile difficulties the bank is expected to miss out as a front runner this time around.
The company has appointed Lazard as an independent IPO advisor and is said to be worth somewhere in the region of GBP3.5 billion with debt or GBP2.2 billion without. Merlin refused to comment on the speculation but Nick Varney, CEO was quoted as saying: “We have been clear for some time that the moment to next look at the ownership structure was the end of 2013 or the start of 2014.”