What has Blackstone (NYSE: BX) been doing with all those theme parks it's been buying? Well, the answer is becoming a bit clearer now. The private equity firm is getting ready to take theme park operator Merlin Entertainments public early next year.
Several investment banks have already been called to advise on the transaction, including Citigroup (NYSE: C), Goldman Sachs (NYSE: GS), Deutsche Bank (NYSE: DB), UBS (NYSE: UBS), and Nomura (NYSE: NMR). If all goes as planned, the deal could be good for $3.33 billion.
Merlin is the second largest theme park company in the world, behind Disney (NYSE: DIS). It owns the London Eye, Madame Tussauds, and the Sea Life centers. Dubai International Capital owns 20% of Merlin and, like Blackstone, wouldn't comment for Reuters.
The move doesn't come as a shock, as the private equity industry has been getting ready to float some of its better portfolio companies in the coming year. The stabilization of equity markets has provided conditions that make exits possible from many of the positions they have accumulated over the past few years. Blackstone, for example, is looking at seven other possible IPOs next year in addition to Merlin.
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