Blackstone Group selling more SeaWorld stock
Mar 24, 2014
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.