Legoland Operator Merlin Entertainments Plans IPO in London

Merlin Entertainments Group Ltd., the private-equity backed owner of Madame Tussauds and the London Eye, plans to raise 200 million pounds ($324 million) selling shares in a London initial public offering.

Blackstone Group LP, CVC Capital Partners Ltd. and Lego Group owner Kirkbi A/S are also expected to sell part of their stakes in the offering, the company said today in a statement. The owners are seeking an enterprise value, or the sum of Merlin’s equity and net debt, of about 4 billion pounds, according to two people familiar with the matter, who asked not to be identified because the sale has yet to be completed. A London-based company representative declined to comment on the valuation.