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BUSINESS
October 3, 2009 | Stuart Pfeifer
SeaWorld in San Diego, the fourth-most-popular theme park in California, may soon have a new owner. Reports surfaced Friday that private equity firm Blackstone Group is closing in on a deal to buy 10 theme parks owned and operated by Anheuser-Busch InBev. Busch Entertainment Corp.'s largest parks include SeaWorld attractions in San Diego, San Antonio and Orlando, Fla., as well as Busch Gardens parks in Tampa, Fla., and Williamsburg, Va. The Wall Street Journal reported Friday that Blackstone Group is in the process of acquiring the theme parks for $2.5 billion to $3 billion.
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BUSINESS
March 29, 2014 | By Tim Logan
This time last year, investment firms raced to buy dozens of single-family homes in neighborhoods from Fontana to South Los Angeles to lease them out, transforming the mom-and-pop rental business into a Wall Street juggernaut. The flood of cash helped spark a steep rise in prices, drawing criticism for pushing families out of the market. But now the firms themselves have all but stopped buying in Southern California, the latest evidence that home prices have hit a ceiling. The professional investors no longer see bargains here.
BUSINESS
April 3, 2014 | By Hugo Martín
Amid ongoing controversy over its killer whale shows, SeaWorld Entertainment Inc. reported a 13% drop in attendance for the first three months of the year. The attendance numbers were included in a notice to the Securities and Exchange Commission that SeaWorld was buying 1.75 million of its own shares from private equity firm Blackstone Group. The notice said attendance for the quarter that ended March 31 dropped to about 3.05 million visitors from 3.5 million in the same period in 2013.
BUSINESS
May 22, 2012 | By Tiffany Hsu
Motel 6 and Studio 6, the no-frills budget hotel chains that once offered rooms for $6 a night, are being sold by French parent Accor for $1.9 billion. Their new owner, an affiliate of private equity firm Blackstone Group, already owns Hilton Worldwide. Blackstone's Real Estate Partners VII fund said it plans to "accelerate the expansion of the franchise base" for Motel 6 and Studio 6. Accor said it will use proceeds from the sale to slash its debt and grow its luxury Sofitel and Novotel hotels in expanding markets such as Asia, Latin America and Europe.
BUSINESS
May 12, 1989
Wall Street Firms Look at Thrifts: Three powerful Wall Street companies--Salomon Inc., Blackstone Group and Old Stone Corp.--announced the formation of a partnership for the purpose of acquiring insolvent financial institutions. The three companies said their affiliates hope to raise between $300 million and $600 million to take over and operate some of the troubled institutions crippled by the nation's thrift industry crisis.
BUSINESS
October 25, 2007 | From Times Wire Services
Hilton Hotels Corp., the second-largest U.S. hotel chain, said its $20-billion sale to Blackstone Group was completed. Hilton's shares stopped trading on the New York Stock Exchange after the market closed, the companies said. The sale, for $26 billion including debt, is a record for the hotel industry. Shares of Beverly Hills-based Hilton rose 8 cents to $47.48.
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