CVC, Blackstone launch up to $1bn share sale in UK’s Merlin-Reuters

(Reuters) – Private equity firms CVC and Blackstone have launched the sale of all of their remaining shares in UK company Merlin Entertainments.

Deutsche Bank, which is running the sale, said on Monday that it was selling 156,541,347 shares in the theme park resort company via an accelerated bookbuild.

A source familiar with the matter said the shares were being sold at a range of 417-426.50 pence a share. At the upper end of the price range the placement would be valued at 667.6 million pounds.