China Media Capital (CMC), the country’s leading investment fund focused on media and entertainment, has agreed to set up a joint venture with Merlin Entertainment Group to build a Legoland theme park in Shanghai.
The deal was concluded during President Xi Jinping’s first state visit to Britain, Headline Daily reported Thursday.
On Wednesday, Xi, accompanied by Prince William and Kate, the Duchess of Cambridge, visited an exhibition held by CMC and Merlin and spoke with CMC chairman Li Ruigang and Merlin chief executive Nick Varney.
In addition to the Legoland park in Shanghai, the two companies will develop a series of indoor and outdoor entertainment attractions around China, such as the Dungeons, Legoland Exploration Center, and Kung Fu Panda Adventures.
CMC-funded Dream Center, which is under construction in Shanghai, will be incorporated into the proposed joint venture, it said.
The two firms did not disclose details of the amounts invested.
Alex Lee, general manager of Miramar Travel, said the Shanghai Legoland park will attract more families to visit the city.
But Johnny So, assistant general manager of Sunflower Travel, said Legoland is expected to have less appeal than Disneyland and Universal Studios because it is somewhat smaller.
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