2:47 pm Blackstone exits SeaWorld investment at a 33% premium as Chinese investors step in (SEAS)
SeaWorld Entertainment (SEAS) is up ~5% after Blackstone (BX) sold its 21% equity interest in the company to Zhonghong Zhuoye Group at $23.00 per share, a 33% premium.
It is an impressive exit for Blackstone, who will no longer hold any interest in SeaWorld. The private equity firm brought SEAS public in 2013.
SeaWorld has struggled to entice visitors to its theme parks after the Blackfish documentary in 2013 changed at least some people's perception of keeping animals captive …More