Blackstone Plans To Sell $500M In SeaWorld Shares

Law360, New York (March 24, 2014, 3:12 PM EDT) -- The Blackstone Group will sell 15 million SeaWorld Entertainment Inc. shares in a secondary offering, which at Monday's price of about $31.90 per share would net it a little under $500 million, according to a prospectus filed Monday with the U.S. Securities and Exchange Commission.

Blackstone has reduced its stake in SeaWorld since last April's IPO, when SeaWorld and Blackstone offered 26 million shares for $702 million. In November, Blackstone went from 63 percent to 46 percent ownership in the Florida-based company. The latest sale will...
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