Independent investment bank Lazard has secured a key role advising the Danish family that controls Lego and a consortium of private equity firms on their £5.9bn acquisition of Legoland owner Merlin Entertainments.

The deal is one of the largest UK-targeted mergers and acquisitions transactions so far in 2019 and one of the biggest European buyouts in history. It means Kirkbi Invest, the investment vehicle of Lego’s founding family, Blackstone, the private equity firm, and the Canada Pension Plan Investment Board will take control of Merlin, continuing the trend of large public companies tapping private capital.