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London Eye changes hands in 1 billion deal

London SE1 website team

The London Eye has been bought by the owners of the London Dungeon as part of a £1 billion deal.

London Eye and London Dungeon
The London Eye and the London Dungeon are part of the enlarged Merlin Entertainments Group.

Merlin Entertainments Group has announced the acquisition of Tussauds Group plc, the attractions company best known for its waxworks and theme parks, from Dubai International Capital.

Merlin's portfolio includes the London Dungeon and the chain of Sea Life centres around the country.

The sale comes a year after Tussauds Group bought out the other shareholders in the London Eye, Marks Barfield Architects and British Airways, to take full control of the South Bank attraction.

"The combination of the Merlin and Tussauds brands, people and operating expertise will create an exciting and world-beating global entertainment company," says Merlin's chief executive Nick Varney.

"With such iconic brands, the expanded Merlin will not only have strong development potential, but also an amazingly robust and high value portfolio. Our ambition is to build on this to become the world leader in location based, branded, family entertainment."

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