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The Blackstone Group L.P. Message Board

  • adspatz adspatz Aug 8, 2013 8:53 AM Flag

    Blackstone to sell Hilton through IPO

    Search for "SEC Live Filings Digest" to find out more.
    Blackstone Group (BX) is looking to sell hotel chain Hilton in an initial public offering, as more details to the offering have recently become available. Hilton Worldwide has selected banks to serve as joint bookrunners, including Deutsche Bank, Goldman Sachs, Bank of America Merrill Lynch, and Morgan Stanley. The offering is predicted to be made in the first half of next year, and would return Hilton to the public market following its sale to Blackstone for $18B and $7B in debt in 2007. Private equity firms have been looking to cash in on investments as the U.S. stock markets have been steadily climbing to new heights. The selected banks to the IPO are expected to assist Hilton in the refinancing of its roughly $13B debt, as Hilton looks to restructure itself in preparation for the offering.

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