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SDNews.com
Home Downtown News

SeaWorld among amusement parks sold to equity company

Tech by Tech
October 13, 2009
in Downtown News, News, No Images
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San Diego’s SeaWorld, along with its two sister SeaWorld parks, two Busch Gardens parks and five other entertainment attractions, will be sold to The Blackstone Group, an international private equity firm headquartered in New York. A joint announcement yesterday by Anheuser-Busch InBev and The Blackstone Group stated that the Busch Entertainment Corp. will be acquired by Blackstone in a deal involving a $2.3 billion cash payment and the right to participate in a return on investment totaling up to $400 million. The transaction is pending regulatory clearance. “We have no staff reductions at all related to this transaction at any level,” said Busch Entertainment Corporation President Jim Atchison, adding that the corporation will continue to run and maintain the park as usual. Blackstone owns Hilton Hotels, Orbitz Travel and the United Kingdom’s Merlin theme parks. It also has a 50 percent ownership in Universal Orlando. The sale will allow Anheuser-Busch InBev to focus on its core business of brewing beer, according to the joint statement.

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