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Khazanah weighing sale of RM1 billion Legoland theme park

[KUALA LUMPUR] Malaysian sovereign wealth fund Khazanah Nasional Bhd is weighing a sale of Legoland Malaysia Resort, people with knowledge of the matter said.

The theme park could be valued at around RM1 billion ringgit (S$332 million) including debt, the people said, asking not to be identified because the information is private. Khazanah is considering the potential divestment as part of its review of non-core assets, according to the people.

Legoland Malaysia, located in the southern state of Johor, is owned by a Khazanah unit and operated by Merlin Entertainments Plc. It's the first Lego-themed park in Asia, covering an area equivalent to over 50 soccer fields with more than 15,000 Lego models made from over 60 million bricks.

No final decisions have been made, and Khazanah could decide to keep the property, the people said.

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Khazanah will consider selling Legoland if there’s a good offer, managing director Shahril Ridza Ridzuan said at press conference on Tuesday in Kuala Lumpur. The fund isn’t currently in talks with anyone, according to Mr Shahril.

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