June 20, 2007 |
Blackstone Group has moved up its huge and highly anticipated initial public stock offering to this week, suggesting strong investor demand for the stock despite newly proposed legislation that would significantly increase taxes on the private equity goliath. The IPO shares are now expected to be priced Thursday and to begin public trading Friday. The offering previously was scheduled for next week. After two U.S.
October 3, 2009 |
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.
July 4, 2009 |
Blackstone Group, the buyout firm that owns Hilton Hotels Corp., sold a golf resort near Carmel to an investment firm led by John Pritzker for $20 million. Pritzker, the founding partner of San Francisco-based Geolo Capital and son of the late billionaire Hyatt Hotels founder Jay Pritzker, said his company would spend about $25 million to upgrade Carmel Valley Ranch during the next 18 to 24 months. The resort is spread over 400 acres, and Pritzker's plans include room renovations and a spa.
April 18, 2013 |
You know Los Angeles has become a tough real estate market when it's hard for even Jon Gray to find a bargain. “It's become harder, because the pricing has moved up,” said Gray, the global head of real estate for private equity firm Blackstone Group. “L.A. is probably the toughest market.” As chief of one of the world's largest real estate investment funds, with $60 billion in assets, Gray is the walking embodiment of the term “smart money.” To put it succinctly, he is “the man with the bank account,” which was how Mayor Antonio Villaraigosa introduced him Thursday at a chummy ceremony in downtown's Arts District.
June 6, 2006 |
Brookfield Properties Corp., owner of the World Financial Center in Lower Manhattan, and buyout firm Blackstone Group agreed to acquire Trizec Properties Inc. for $4.8 billion plus the assumption of $4.1 billion in debt, the second-largest takeover of a real estate investment trust. Trizec, whose chairman is Canadian real estate mogul Peter Munk, would almost triple Toronto-based Brookfield's U.S.
May 22, 2012 |
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.
March 28, 2013 |
Just like its popular Duncan Hines cake mixes, packaged foods company Pinnacle Foods Inc. was on the rise Thursday morning after raising $580 million in an initial public offering. The company -- which owns an array of popular brands including Birds Eye, Aunt Jemima, Log Cabin, Mrs. Butterworth's and Hungry-Man -- debuted on the New York Stock Exchange under the PF symbol. Wednesday night, the Parsippany, N.J.-based business sold 29 million shares for $20 apiece -- on the top end of its suggested $18-to-$20 range.