UNITED KINGDOM – The family of the Lego brand founder has completed its agreement with Merlin Entertainments, owner of the Legoland Parks brand, to purchase the company and place it under private ownership.
Merlin is some eight months away from completing its newest Legoland theme park in Goshen.
The family of Lego brand founder Kirk Christiansen already owned 29 percent of the company.
On June 28, Merlin Entertainment and the board of Motion Acquisition Limited (Bidco) had announced agreement on terms for Bidco to acquire all remaining shares and take the company private.
The deal was reported to be worth $6.1 billion.
In a legal filing dated October 31, Merlin announced “the High Court of Justice in England and Wales has today sanctioned the scheme pursuant to which the acquisition is being implemented.”
Further to the announcement made by Merlin Entertainments and Motion Acquisition Limited on November 4, Merlin announced that following an application by Merlin, the Financial Conduct Authority has cancelled the listing of Merlin Shares on the premium listing segment of the Official List and the London Stock Exchange has cancelled the trading of Merlin Shares on the London Stock Exchange’s main market for listed securities, in each case with effect from 8 a.m. (London time) November 5, 2019.
The shift in ownership is not anticipated to have any significant impact on the completion of the Legoland New York project in Goshen.