Blackstone sells SeaWorld stake to Chinese trade buyer
The Blackstone Group has agreed to exit theme park operator SeaWorld by selling a 21% stake to Zhonghong Zhuoye Group – a Chinese real estate developer with an interest in leisure and tourism – for about $449 million.
Zhonghong will buy Blackstone’s shares for $23 apiece, a 33% premium to the March 23 closing price. The stock ended March 24 up 4.74% at $18.03, although it is still down more than 11% on a one-year...
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