Tussauds waxworks owner sold for $1.9 billion

Private equity firm Blackstone Group is buying the owner of Madame Tussauds waxworks museum for about $1.92 billion cash, creating the second-biggest theme parks group behind Disney.

The deal, announced on Monday, would combine Tussauds, one of London's biggest tourist attractions, Sea Life and the London Eye with Blackstone-owned Legoland and Gardaland theme parks, which are held in its Merlin Entertainments Group.

Dubai International Capital bought Tussauds in 2005, valuing the home to lifelike recreations of the world's biggest celebrities at about 800 million pounds. Dubai is retaining a 20 percent stake in the combined group.

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The newly enlarged tourist attraction group plans expansion, particularly in North America.

"Our ambition is to build on this to become the world leader in location based, branded, family entertainment," Merlin Chief Executive Nick Varney said.

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The combined 50 attractions and four hotels drew about 30 million visitors last year.

Tussauds was sold by Pearson Plc, the world's biggest educational publisher, in 1998 to Charterhouse Capital Partners for about 350 million pounds.