Tussauds heading for £900m stock market float?
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Tussauds heading for £900m stock market float?

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Tussauds could be planning a £900m stock market flotation for spring 2004.

Majority stakeholders in Tussauds, the private equity group Charterhouse Development Capital (CDC), appointed investment bank Lazard on 10 September advise on trading and all the possible strategic options available for Tussauds.

Viable options for the Tussauds group to consider before next spring will include flotation, trade sale or refinancing.

CDC acquired its share in Tussauds in 1998 for £352m from publisher Pearson, which owns the Financial Times . Since 1998, CDC has invested a further £300m in overseas expansion of the group and modernisation of some of its attractions.

Tussauds’ theme park portfolio currently holds 13 attractions including Alton Towers, Thorpe Park, Madame Tussaud’s, German theme park Heide Park and a one-third stake in the BA London Eye. The group receives 15 million visitors per year at its sites.

A statement from Tussauds said: “The company will be working with Lazard to evaluate strategic options to ensure it pursues the best possible outcome in order to enhance the compan’ys ability to generate further exciting growth in the future.” Details: www.tussauds.com

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Tussauds Group may move for a £900m stock market flotation in spring 2004.
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