Pearson to sell Tussauds Group to Charterhouse for $597 million

Article Abstract:

Pearson PLC will sell its Tussauds Group theme-park business, which includes the popular Madame Tussaud's wax museum in London, UK, to Charterhouse Development Capital of the UK for $597 million, or 350 million pounds sterling. In addition, the Tussauds sale includes Rock Circus, Warwick Castle, the London Planetarium and the Madame Tussaud's Scenearama in Amsterdam. According to the estimation of analysts, these attractions are visited by over 10 million people annually and achieved around 35 million pounds sterling in operating profits in 1997. Meanwhile, Pearson is the owner of Penguin Group publishing, the Financial Times newspaper and other print and TV assets.

Comment:

Will buy Pearson PLC's Tussauds Group theme-park business for $597 mil

Real Estate, Real Estate and Rental and Leasing, Amusement and Theme Parks, Theme Parks, Amusement parks, Pearson PLC, Charterhouse Development Capital Ltd.

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Hotelier Thistle talks to possible bidders

Article Abstract:

Thistle Hotels PLC announced that it is having preliminary discussions with several of its potential buyers. The company's announcement, which was another indications of the increasing consolidation in the industry, did not give details about the prospects of the transaction. Nonexecutive Chairman Rodney Price also clarified that al the offers for the company were unsolicited and that the company did not initiate any of the bids. Analysts note that the potential price of the company may be as high as 1.5 billion pounds sterling ($2.45 billion).

Comment:

Announces that it is having preliminary discussions with several of its potential buyers

Hotels & Motels, Hotels (except Casino Hotels) and Motels, Hotels and motels, Thistle Hotels PLC

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Southern Electric, Scottish Hydro to join

Article Abstract:

Scottish Hydro-Electric PLC has reached an agreement to acquire Southern Electric PLC for approximately 2.7 billion pound sterling ($4.54 billion) in an exchange of stock. The transaction reflects the ongoing consolidation that is taking place in the UK's power industry. The deal will lead to the creation of one of the largest suppliers of electricity in the UK. The new company will have over 3.3 million distribution customers.

Comment:

Scottish Hydro-Electric PLC to acquire Southern Electric PLC for approximately 2.7 billion pound sterling ($4.54 billion)

Electric Utilities, Electric Power Generation, Transmission and Distribution, Southern Electric PLC, Scottish Hydro-Electric PLC

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