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Friday, October 02, 2009
Report: Blackstone Acquisition of Anheuser-Busch Theme Parks Nearing
FOXBusiness
New York-based private equity fund Blackstone Group LP (BX), is closing in on a deal to acquire Anheuser-Busch InBev (ABI)-owned theme parks, Sea World and Busch Gardens, according to reports.
The deal would range in value between $2.5 billion and $3 billion, and would give Blackstone control over the company's 10 amusement parks located across the United States, according to The Wall Street Journal.
InBev, which purchased Anheuser-Busch last year, had long planned to sell the theme parks to pay for the acquisition, the Journal said.
Blackstone already holds controlling stakes in several other amusement parks, including a stake in the company which manages Madame Tussauds wax museum, Legoland and a 50% stake in Universal Orlando parks, according to the report.
Shares of Blackstone rose 14 cents or 1.04% in after-hours trading, after falling 2.61% to close at $13.45 per share on Friday. Shares of Anheuser-Busch InBev fell 70 cents or 2.28% to close out the week at $30 per share.
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