SeaWorld's Largest Investor Defaults on Loan, Turns Over Shares
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SeaWorld Entertainment Inc. said that Sun Wise Co., its largest stockholder and an affiliate of China’s Zhonghong Zhuoye Group Co., handed the shares over to a securities agent after defaulting on its loans.
SeaWorld has canceled a design-and-development deal with Zhonghong, a real estate developer headquartered in Beijing, according to a regulatory filing Monday. The Orlando, Florida-based theme-park owner said the cancellation won’t have an immediate impact on its business.