SeaWorld Stake, Long Held by Blackstone, Is Sold to Chinese Firm -<br />By MICHAEL J. de la MERCEDMARCH 24, 2017<br />SeaWorld said on Friday that its longtime owner, the Blackstone Group, had sold its remaining<br />stake in the theme park operator to a Chinese investment firm for about $449 million.<br />“Zhonghong Group is making a significant, long-term investment in SeaWorld, reflecting their appreciation of the strength of our brand, our potential to grow the company<br />and a shared commitment to protect wildlife and the environment,” Joel Manby, SeaWorld’s chief executive, said in a statement.<br />In a statement, SeaWorld said that Blackstone had sold its 19 million shares for $23 each, or<br />26 percent more than Thursday’s closing price, to Zhonghong Group, a Chinese conglomerate.<br />The sale ends a relationship between Blackstone, a private equity firm, and SeaWorld<br />that dates back to when Blackstone bought Anheuser-Busch InBev’s theme parks in 2009.<br />Blackstone took SeaWorld public in 2013, eventually reaping what a person briefed on the matter,<br />but not authorized to speak about it, said was a $1.7 billion profit on the investment.
