Thank you for sharing!

Your article was successfully shared with the contacts you provided.

For more retail coverage, click GlobeSt.com/RETAIL.

CARLSBAD, CA-Rumors are swirling that Danish toymaker the Lego Group has its four Legoland theme parks on the block and a deal with New York-based Blackstone Group is eminent, with an estimated $461-million price tag. But someone forgot to tell Lego officials, who are denying the sale in a statement released on the company’s website.”We are engaged in the process of a sale, and we are unable to give further details,” CEO Jesper Ovesen says. “But our negotiations continue to be with several interested potential investors, and we can therefore deny media speculation that a deal has been reached.” While he denied a deal with Blackstone, Ovesen did admit that Lego expects a sale to take place “during the course of the summer.” Owned by the Kristiansen family, Lego suffered more than $312 million in net losses last year and the company has said it wants to use the sale of the theme parks to free up cash and lower the firm’s overhead and devote more energy to its core business–of developing plastic building bricks for children. It was only the fourth loss in the company’s 72-year history.Besides its Carlsbad location, Lego has theme parks in Billund, Denmark; Guenzburg, Germany; and Windsor, England that attract more than five million visitors a year. For Blackstone, it would be an expansion of the private equity firm’s theme park portfolio. The firm owns an interest in the operation of Universal Studios, Orlando and earlier this month, acquired London-based Merlin Entertainments for $187 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.