The Blackstone Group: Merlin Entertainment Harvard Case Solution & Analysis

Blackstone Group conducted a roll theme parks and attractions business in Europe. He examines how to generate liquidity for investors. Blackstone went to theme parks and attractions business in Europe through the acquisition of a controlling stake in the British Merlin Entertainment in 2005. In 2005 and 2006, Merlin Entertainment has acquired two other similar enterprises, Legoland in Denmark and Gardaland is based in Italy. In late 2006, Blackstone Group was weighing its options to create liquidity for investors. The options were to recapitalize Merlin Entertainment dividends or buy Tussauds Group. Acquisition, if successful, could result in the second largest theme parks and amusement business in the world after Disney. Tussauds Group is owned by another private equity firm, Dubai International Capital (DIC). Blackstone goal was to make at least 3 times on their initial investment in Merlin dividend recapitalization and at least 5 times through the acquisition of Tussauds. The third option arose while Blackstone was in talks with DIC. It was an opportunity to make a sale and leaseback of real estate belonging to the basic Merlin and Tussauds. Based on the facts and the financial condition, it was clear compromise between the size of the profit potential for each case, the timing and risks that must be managed. What you need to Blackstone team do? "Hide
by Nabil N. El-Hage, Brenda Chia Source: Harvard Business School 13 pages. Publication Date: July 24, 2009. Prod. #: 210014-PDF-ENG

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