The Tussauds Group is buying the British Airways (BA) stake in the London Eye to give it majority control of the city's most popular paying tourist attraction.
Tussauds, which already owns a third of the world's biggest observation wheel, has signed a memorandum of understanding to buy BA'S outstanding loan and one-third stake in the Eye for £95 million ($166 million).
But BA said it would continue its brand association with the 135-metre-high attraction by extending its franchise agreement.
The remaining one third of the Eye is held by its designers, Marks Barfield Architects.
The Eye opened in 2000 and has attracted 18 million visitors.
Tussauds, bought by state-owned Dubai International Capital in March, operates theme parks and historic sites as well as its Madame Tussauds waxwork attractions.