Brussels, 27/04/2007 (Agence Europe) - On Thursday 26 April, the European Commission approved, under the EU Merger Regulation, the proposed acquisition of Tussaud's Group, the British leisure and entertainment service provider, by Merlin Entertainments Group Luxembourg S.a.r.l.
Merlin is part of The Blackstone Group, a private merchant banking firm based in the US which is active mainly in financial advisory services, private equity investing and property investment. It controls portfolio companies which are active in the leisure attractions industry through various theme/amusement parks and visitor attractions in Europe and the US. These include the Dungeons (in London, Edinburgh, York, Hamburg and Amsterdam), Sea Life Centres and the four Legoland theme parks. Tussaud's is active in similar fields. It owns and operates Madame Tussauds, several theme parks and a number of tourist attractions, especially in the United Kingdom.
Despite the new entity's world scale, the Commission's examination showed that the horizontal overlaps are limited to the United Kingdom, more particularly to South East England. However, for all leisure attractions markets concerned, the combined firm would continue to face several strong, effective competitors with significant market shares. The Commission concluded, therefore, that the proposed transaction would not impede effective competition in the EU. (cd)