MADAME Tussauds and a number of theme parks were sold yesterday in an £800m deal with an investment company controlled by the government of Dubai.

Charterhouse, the venture capital group, agreed to dispose of Tussauds Group after six years of ownership in which the business has expanded worldwide.

In the UK, Tussauds operates the London waxworks museum, as well as theme parks Alton Towers, Chessington World of Adventures and Thorpe Park. The group also has a one-third stake in the London Eye, which it operates.

The new owner of the group is Dubai International Capital, a government-backed private equity group set up in October.

It has pledged to retain the existing management team and expand the business, which has attractions in New York, Las Vegas and Hong Kong.

The deal will mean a combined windfall of £30m for 70 Tussauds managers, who own a 15 per cent stake in the group.

Three senior directors, including chief executive Peter Phillipson, are expected to re-invest at least half their stake in the newly-owned business.

Mr Phillipson said Charterhouse had offered steadfast support and commitment, but that Dubai International Capital offered new opportunities for growth.

Tussauds began in 1802 when Madame Tussaud brought her waxwork collection to London.

The attraction - enjoying a revival in popularity because of more interactive displays featuring stars such as Kylie Minogue and David Beckham - is also found in New York, Las Vegas, Amsterdam and Hong Kong.

Mr Phillipson said there were plans to look for a sixth city centre site as part of growth plans under the new owners.