Clifford Chance

Clifford Chance advises KIRKBI on development and financing of LEGOLAND® Japan

Leading international law firm Clifford Chance has advised KIRKBI Invest A/S on the development of a new LEGOLAND^® theme park in Nagoya, Japan. The project is estimated to cost US$320 million and is scheduled to open in 2017. KIRKBI will help finance the development of the park which will then be leased to and operated by Merlin Entertainments, which also runs LEGOLAND^® parks in Denmark, UK, Germany, US and Malaysia. Sumitomo Mitsui Banking Corporation will provide debt financing.

The Tokyo team was led by partners Eiichi Kanda and Leng-Fong Lai. Eiichi said, "We were very pleased to assist KIRKBI on this new project -- the first LEGOLAND^® in Japan and the second in Asia. The project presents a great opportunity for the client and the local economy as it will add to attractive tourist destinations in Japan where the economy continues to improve and the number of incoming tourists is growing."

Leng-Fong said, "This transaction adopts an operator and lease model which we envisage to be a possible template for future resort and leisure facilities run by international operators in Japan."In addition to Eiichi and Leng-Fong, the team included partner Andrew Whan, counsel Yusuke Abe, senior associate Keisuke Wada and associates Hana Bae and Tomoko Azami. Singapore partner Matt Buchanan advised on the construction elements of the transaction.

The Japanese theme park market is the largest in Asia, with an estimated value of £4 billion, and already boasts some of the world’s most successful theme parks.

KIRKBI Invest A/S is a wholly owned subsidiary of KIRKBI A/S, which is the holding and investment company of the Kirk Kristiansen family, the founders of the LEGO^® toy business and the majority owners of the LEGO Group.