Deals
Blackstone Nearly Triples Money on SeaWorld Amid Controversy
- Private equity firm makes 2.7 times investment from 2009
- SeaWorld has faced controversy over treatment of whales
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Blackstone Group LP will nearly triple its money on its seven-year investment in SeaWorld Entertainment Inc. after weathering backlash over the theme-park operator’s treatment of killer whales.
Blackstone agreed Friday to sell its remaining 21 percent stake in the theme-park operator to China’s Zhonghong Zhuoye Group Co. for about $449 million, or $23 a share. The sale caps a return of about 2.7 times the original equity investment by Blackstone and co-investors, according to regulatory filings.