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CVC, Blackstone launch up to $1bn share sale in UK's Merlin

Reuters - UK Focus

LONDON, March 2 (Reuters) - Private equity firms CVC (Taiwan OTC: 4744.TWO - news) and Blackstone (NYSE: BX - news) have launched the sale of all of their remaining shares in UK company Merlin Entertainments (LSE: MERL.L - news) .

Deutsche Bank (LSE: 0H7D.L - news) , 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. ($1.03 billion) ($1 = 0.6512 British Pounds) (Reporting by Freya Berry; editing by Pamela Barbaglia)