BREAKING NEWS

BREAKING NEWS

UK's Merlin sells Australian ski resorts for 95 million pounds

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LONDON (Reuters) - Britain's Merlin Entertainments has sold its Australian ski resorts, Hotham and Falls Creek, to Vail Resorts Inc for about A$174 million (95 million pounds), it said on Friday.

Merlin, operator of tourist attractions such as Madame Tussauds waxworks, said the deal is subject to regulatory approval and is expected to close by June.

It said net proceeds will be used for general corporate purposes.

(Reporting by James Davey; editing by Kate Holton)

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