Merlin to develop Legoland Park in Shanghai

Merlin Entertainment is launching a joint venture with state-backed China Media Capital to develop a Legoland Park in Shanghai among other attractions in China.

The FTSE 100 company announced the partnership with the Chinese private equity and venture capital firm on Wednesday.

As well as Legoland, the partnership will roll out several of Merlin's 'Midway' brands throughout China, including the adaption and localisation of existing and proven Merlin brands such as 'The Dungeons' and selected 'Legoland Discovery Centers' for the Chinese market.

It will also look into the development of new Midway brands and concepts including 'DreamWorks Tours - Kung Fu Panda Adventures'.

Merlin already has five attractions in China - Madame Tussauds in Shanghai, Hong Kong, Beijing and Wuhan, and Chang Feng Ocean World aquarium in Shanghai.

It has also already announced plans for three further attractions scheduled to open in the next 18 months - Legoland Discovery Center Shanghai, and a Madame Tussauds and SEA LIFE aquarium in Chongqing.

Chief executive of Merlin Entertainments Nick Varney said China is a key growth market for the group.

“We see this partnership as providing a significant opportunity to accelerate our plans.

“We're also very excited to be working with CMC on the development and roll out of new brands. By working together in partnership we will be able to combine our expertise in operating world-class attractions with CMC's insight and expertise in the Chinese market."

The agreement will be formally announced at a UK Trade & Investment event later in the day as part of China President Xi Jinping’s state visit, which will also be attended by the Duke and Duchess of Cambridge.