China-based Zhonghong Zhuoye Group Co Ltd will buy Blackstone Group LP‘s (BX.N) 21 percent stake in SeaWorld Entertainment Inc (SEAS.N), the embattled U.S.-based marine park operator said on Friday.
SeaWorld said Zhonghong Group would buy the stake for $23 per share, a premium of nearly 33 percent to the stock’s close on Thursday.
Zhonghong Group – a diversified holding company for investments in real estate, leisure and tourism – will pay about $429 million for the stake, according to Reuters calculations.
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