Blackstone to Cut Hilton Stake to Under 50% With Sale
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Blackstone Group LP is selling 90 million shares of Hilton Worldwide Holdings Inc., reducing its stake in the world’s biggest hotel operator to less than 50 percent.
Underwriters have the option to sell an additional 13.5 million shares, McLean, Virginia-based Hilton said in a statement Monday. If they’re sold, Blackstone’s Hilton stake would be reduced to 44.7 percent from 55.2 percent, the lodging company said in a regulatory filing. Without the additional sale, the interest will be 46 percent.