Pearson to sell Tussauds

campaignlive.co.uk, Wednesday, 24 June 1998 12:00AM

- Media group Pearson is to continue its strategy of disposing of non core business by announcing it has begun the process that could lead to the sale of the Tussauds Group.

- Media group Pearson is to continue its strategy of disposing of non core business by announcing it has begun the process that could lead to the sale of the Tussauds Group.

With a number of buyers expressing keen interest Pearson has appointed Lazard Brothers to advise on the sale process.

News of the sale of the Tussauds Group comes on the back of the announcement of the sale of Pearson's 40.5% stake in Port Aventura SA, the Spanish theme park for £18 million.

Pearson is selling 37% to Universal Studios, part of the Seagram Group, and a further 3.5% to Caixa, Spain's leading savings bank which is already a shareholder in the theme park.

The Tussauds Group is the UK's leading visitor attraction business and includes not only the eponymous Madame Tussaud's wax works but also Alton Towers, the UK's largest theme park. The group also owns Chessington World of Adventures, Rock Circus and the London Planetarium.



This article was first published on campaignlive.co.uk

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