BRITISH AIRWAYS is to sell its one-third stake in the London Eye to the Tussauds Group, another of the attraction”s part owners. Tussauds will pay a total of ”95m for the stake, together with BA”s outstanding loan to the Eye. The book value of the loan, which was for an initial sum of ”130m, is currently ”175.2m. Tussauds said it planned to invest ”50m in the Eye over the next five years. BA intends to continue to support what has become a London landmark and major (3.7m rides in 2004), visitor attraction.
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