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Blackstone Group selling more SeaWorld stock

Leah Zanolla | Posted: Mar 24, 2014 | Updated: Oct 19, 2014 - 9:25:27 AM
The Blackstone Group is planning to sell off more of their SeaWorld shares. The sale of 15 million shares will bring their total holding down to 25% of SeaWorld Entertainment Inc; they currently hold 43% of the company. The sale should bring in about $500 million. Blackstone bought SeaWorld Entertainment, which owns 11 different theme parks, in 2009 for $2.3 billion.

Some of those shares may go to SeaWorld itself; the company says it is considering buying 1.75 million shares back from Blackstone. SeaWorld announced an IPO last year valued at $702 million; stock was priced at $27, but was up to $33.17 last week.