InBev SA is likely to put a
$2.9 billion "for sale" sign on Anheuser-Busch Cos.'s famed Busch Entertainment Corp., which runs 10 theme parks across the U.S. We mentioned it would probably be a private equity firm, since other major theme park operators -- such as Six Flags Inc., Walt Disney Co. and Ohio's Cedar Fair Entertainment Co. -- aren't in the market for expansion. Blackstone Group LP's Merlin Entertainment Group was on our radar, but maybe it shouldn't be. A commenter on our site says Blackstone is blocked from buying any theme park company that operates in Florida per their agreement with Universal Studios. If anyone else cares to address this point, feel free.
So, who else is there? One report
mentioned Spain's Parques Reunidos. PE firm Candover Investments
bought that amusement park operator for around $1 billion in early 2006 from Advent International Corp. CD also mentioned the hundreds of billions of dollars Dubai is pouring into its entertainment industry. Can Dubai International Capital be a bidder? Last year it
sold the Tussauds Group to Merlin for $2 billion and got a 20% stake in Merlin as well.
Another angle comes from TampaBay.com: "Spinning the parks off on their own IPO with the current management may be the best option," said John Gerner, managing director of Leisure Business Advisors, a Richmond, Va., consultant. "They can license the Busch name if needed."
The general consensus is that a buyer would come from overseas. Any ideas? Your suggestions and insight are welcome. -
Baz Hiralal
It's summer, and InBev's buying Bud. Time to think about theme park deals!
Join Corporate Dealmaker's LinkedIn forum
Juergen Lasowski
And the winners are...
