By Jana Simmons
LONDON--Merlin Entertainments PLC (MERL.LN) and China Media Capital said Wednesday they are setting up a joint venture to develop a Legoland Park in the Shanghai area and explore other opportunities to develop visitor attractions in China.
Merlin has five attractions in China--Madame Tussauds in Shanghai, Hong Kong, Beijing and Wuhan, and Chang Feng Ocean World aquarium in Shanghai--and has plans to open three further attractions in the next 18 months--Legoland Discovery Center Shanghai, and a Madame Tussauds and Sea Life aquarium in Chongqing.
"China is a key growth market for the group and we see this partnership as providing a significant opportunity to accelerate our plans," said Merlin's Chief Executive Nick Varney.
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