Latest News

Back to Latest News back

 

Merlin snaps up Living and Leisure Australia

Merlin snaps up Living and Leisure Australia
December 19, 2011

Global leisure operator Merlin Entertainments has launched a $140 million bid for the Living and Leisure Australia Group (LLA), the owner of the Melbourne Aquarium, Underwater World Mooloolaba and the Victorian ski resorts of Hotham and Falls Creek.

LLA Directors have advised that they support the cash offer from Merlin's Australian subsidiary, subject to an independent expert's report and in the absence of a superior proposal.

The offer price of 5.14 cents per Living and Leisure stapled security represents a 157% premium to their last closing price before the bid was made.

Merlin, which owns the global Madame Tussauds and Eye brands owns the Sydney Aquarium, Oceanworld Manly and recently rebranded WildLife Sydney, Sydney Tower Eye and Skywalk. Its existing Australian attractions were acquired from Village Roadshow.

LLA also owns assets in Asia, including Siam Ocean World in Bangkok, Shanghai Chang Feng Ocean World in China and Busan Aquarium in South Korea.

Chief Executive Nick Varney said the acquisition would increase Merlin's exposure to Asia and Australia, stating "completion of this deal, together with our existing ongoing development, would represent an important step in our growth strategy for the region."

"Merlin has a strong track record of growing the assets it buys. The acquisition of LLA would open up new markets to us and facilitate the continuing rollout of Sea Life, Madame Tussauds, Eye and Legoland brands in (the) Asia Pacific Group region, complementing our existing strength in Western Europe and North America.

"Merlin has a strong track record of growing the assets it buys. The acquisition of LLA would open up new markets to us and facilitate the continuing rollout of Sea Life, Madame Tussauds, Eye and Legoland brands in (the) Asia Pacific Group region, complementing our existing strength in Western Europe and North America."

Merlin plan to open Madame Tussauds Sydney next year.

30th August 2010 - AQUARIUMS SINK LIVING AND LEISURE RESULTS 

28th October 2008 - NEW RIDE FOR SYDNEY TOWER

23rd May 2008 - LIVING AND LEISURE AUSTRALIA TO RECAPITALISE

12th February 2008 - DOWNHILL FOR MFS ASSETS


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

HTS Group Ltd

HTS Group Ltd provides a complete design, system integration, installation and maintenance package to the transportation, traffic engineering, parking and sports timing industries in New Zealand,…

read more

Aquatics / Events / Sport / Technology

 
 

SUNBATHER

Solar Pool Heating & Swimming Pool Covers since 1974. Sunbather offer an Australian made product which undergoes continual development to enable you to trust in the Sunbather brand. We deliver a…

read more

Aquatics / Venues

 
 

REGUPOL

Regupol Australia Pty Ltd offers a comprehensive range of recycled rubber fitness and leisure flooring surfaces. Their range of products include everroll rubber flooring, Regupol elastic…

read more

Fitness / Recreation / Safety / Surfaces

 
 

COMMERCIAL AQUATICS AUSTRALIA

Commercial Aquatics Australia provides aquatic solutions nationwide and is one of the largest and most experienced companies specialising in the design, construction, renovation, service, maintenance…

read more

Aquatics / Design / Play / Waterparks

 
 

Smart Connection Consultancy

Smart Connection Consultancy is a boutique sport and recreation consultancy who has become one of Australia’s leading advocates for the use of synthetic sports surfaces as a vehicle to grow…

read more

Consultants / Recreation / Sport / Surfaces

 
 

Summit Fitness

Summit Fitness Equipment is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/

read more

Fitness / Recreation / Technology / Wellness

 
 

Worldwide Sports Management

Principal Consultant Simon Weatherill has spent the last 20 years developing the world renowned Melbourne Sports Hub, as former Chief Executive Officer of the State Sports Centres Trust…

read more

Aquatics / Consultants / Recreation / Sport / Venues

 
 

Clubware

Clubware’s online gym software is not your run of the mill management system. It has been carefully designed to incorporate all the elements that a fitness club would need. How did we do that?…

read more

Access / Billing / Fitness / Recreation

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business