Private equity firm Blackstone has announced it is to buy Madame Tussauds waxworks owner Tussauds Group for £1 billion.
Blackstone-controlled Merlin Entertainment said it would pay Dubai International Capital £1.028 billion in cash and a 20 per cent stake in the combined company.
The deal combines attractions like Madame Tussauds, Britain's Alton Towers and Italy's Gardaland theme parks with the Blackstone-owned London Eye and Legoland.
