Posted on Feb 16, 2010 | Comments 1
The plans for floating Merlin Entertainments were canceled due to economic crisis.
Blackstone has postponed The Merlin IPO, the operator of Madame Tussauds and Legoland just hours after the announcement for a £1.2bn listing of Travelport.
A week before it was announced the acquisition of a theme park in Florida. The plan was pulled due to meager investment interest.
However, Merlin had solid business model, which institutions was expected to approve. Merlin was supposed to confirm its intention to float and list the shares before Easter.
Another reason for the postponing of Merlin float is the volatility in the markets lately, which made the plans insecure, in spite of their good business plan.
The debt crisis in Europe and especially in countries such as Greece and Spain plus American plans for bank levy caused the fear index- the Vix to grow to a three-month high. The plan is now canceled for unknown time.
Sad news for the ones who planned to pack up their bags and see it go.
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