Tussauds firm buys UK engineering company

An English engineering firm dating back more than 200 years was snapped up for £700m (€1.03bn) today by the Dubai-based owner of Madame Tussauds.

Doncasters, which employs more than 2,000 staff at 25 UK sites, was bought from the Royal Bank of Scotland by Dubai International Capital (DIC), an investment firm controlled by the government of Dubai.

The deal for the maker of engine turbine blades is the latest in a wave of Middle East takeovers in the UK, coming just a month after another Dubai-based firm agreed to buy ports group P&O.

DIC acquired Tussauds Group, including Alton Towers and Chessington World of Adventures, for £800m (€1.1bn) earlier this year.