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Blackstone-owned Hilton Worldwide files for initial public offering

Hilton Worldwide announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Deutsche Bank, Goldman Sachs, BofA Merrill Lynch, and Morgan Stanley are acting as the joint book-running managers for the offering. Hilton plans to use proceeds from the offering to pay down debt, according to a regulatory filing. Hilton Worldwide is owned by Blackstone Group (BX), which will own a majority of the voting power in Hilton following the offering.