Taiwan’s Fubon Life pays US$540m for Madame Tussauds London siteMay 27 2015 by InsuranceAsia News Staff
Top tourist attraction Madame Tussauds has been acquired by Taiwanese insurer Fubon Life Insurance in a US$540m deal.
Fubon Life Insurance bought the Marylebone site, which has been home to the waxworks museum for about 130 years, for GBP348.8m (US$540m).
The property is located on Marylebone Road near Regents Park and displays waxwork figures of celebrities such as Brad Pitt and Angelina Jolie, or One Direction.
In a statement, Fubon said the property includes a 2,833 square-metre block of land and 10,898 square-metre building.
The deal was agreed after Fubon Life received approval from Taiwan’s Financial Supervisory Commission to purchase the property from Secure Income REIT Plc.
The purchase was part of Fubon’s plans to buy as much as US$3bn of overseas properties after Taiwanese regulators eased investment curbs on insurance companies.
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